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Increased funding for non-BRM positive for Ontario's Gran Farmers

GUELPH, ON (September 20, 2012) – The 50 percent increase to non-business risk management program funding announced by Minister of Agriculture, Gerry Ritz, is good news for Ontario’s grain farmers.  Grain Farmers of Ontario has some key opportunities for the next policy framework and the increase to funding will be required to meet our goals.

With innovation, competitiveness and market development as the overarching themes in Growing Forward 2, there are a number of opportunities in Ontario to address them.  These include investments in Ontario grain farming through science programs like the Farm Innovation Program (FIP), the Developing Innovative Agri Products (DIAP) program and the Science Clusters and market development programs like the Environmental Farm Plan and the Agri-Tech Commercialization Centre.

“Our board has set the bar high – to drive the Ontario grain industry to become a global leader,” says chair, Henry Van Ankum.  “Our members are well positioned for success but we can only achieve our goals through collaboration with government and industry.”

There are three federal programs that will be extremely important to the competitiveness of Grain Farmers of Ontario members in Growing Forward 2 – the FIP, the DIAP program and the Science Clusters.

Grain Farmers of Ontario is also supportive of the work the federal and provincial governments have been doing to encourage market growth domestically and internationally through examples like biofuels mandates and free trade negotiations with strategic countries around the world.

“As the details of the non-BRM programs in Growing Forward 2 are worked through in the next couple of months, this is a critical time for GFO to be working with government to communicate our farmers’ needs,” says Barry Senft, CEO.  “Our priority is greater access to programs for Ontario’s grain farmers in order to attain the research and market development priorities that have been set by our members.”

Grain Farmers of Ontario

Grain Farmers of Ontario is the province’s largest commodity organization, representing Ontario’s 28,000 corn, soybean and wheat farmers. The crops they grow cover 6 million acres of farm land across the province, generate over $2.5 billion in farm gate receipts, result in over $9 billion in economic output and are responsible for over 40,000 jobs in the province.

Contact:

Barry Senft, CEO - 1-800-265-0550; bsenft@gfo.ca

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Weekly Commentary

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Grain Market Commentary for September 20, 2017

Wednesday, September 20, 2017

Commodity Period Price Weekly Movement
Corn CBOT December 3.50  01 cents
Soybeans CBOT November 9.70  11 cents
Wheat CBOT December 4.50  07 cents
Wheat Minn. December 6.22  12 cents
Wheat Kansas December 4.48  05 cents
Chicago Oats December 2.46  08 cents
Canadian $ December 0.8115  0.75 points

Harvest 2017 prices as of the close, September 20 are as follows:
SWW @ $190.53/MT ($5.19/bu), HRW @ $199.60/MT ($5.43/bu),
HRS @ $241.11/MT ($6.56/bu), SRW @ $195.06/MT ($5.31/bu).

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Market Trends Report for September-October 2017

Monday, September 18, 2017

US and World

Across the US corn belt American farmers are starting to harvest another huge crop. The growing season was uneven with widespread drought in the Northwest plains and quite a wet start in the Eastern corn belt. This was accentuated by somewhat dry conditions in mid-summer, but it looks like good genetics and modern farming methods have won out. As we careen into October, US farmers are set to harvest their third-largest corn crop and the largest soybean crop ever.

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On September 12th the USDA released their latest estimates of US crops. USDA estimated US corn production would come in at 14.184 billion bushels, with an average yield of 169.9 bushels per acre. This was seen as a bit of a shock to the market as traders were expecting lower yield estimates. The USDA also increased 2017/18 ending stocks to 2.335 billion bushels, up 62 million from their August report. This US crop is approximately 6% less than last year with the yield 4.7 bushels per acre lower.

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