News

Ontario budget positive for grain farmers

GUELPH, ON (May 2, 2013) – The Ontario government’s commitment to consult with stakeholders on a renewable diesel fuel mandate in the provincial budget announcement is a positive step forward for grain farmers in Ontario.

In the 2013 Ontario budget, the province commits to renewable fuels.  We welcome the consultation process to establish a provincial mandate for renewable diesel fuel before the biodiesel tax exemption is repealed on April 1, 2014. 

“A 2% mandate in the province of Ontario will create demand for 160 million litres of renewable diesel, which means a potential soybean usage of 680,000 tonnes,” says Henry Van Ankum, Chair of Grain Farmers of Ontario.

Other positive statements in the budget include a re-commitment to the provincial Risk Management Program and the development of the Ontario Corn-Fed Beef Risk Management Fund for greater price stability in the industry.

An additional initiative that will have a positive impact on the agricultural industry is the local food bill that, if passed, will invest $30 million in local food projects over three years.

“Our organization looks forward to working closely with government over the next few months to develop biofuel policy that benefits the province and our members,” says Van Ankum.  “We will also work with government to ensure new and existing provincial programs continue to deliver value to Ontario’s grain farmers.”

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

Stay in touch

Subscribe to the Bottom Line

Subscribe to The Bottom Line, the weekly newsletter that helps our members stay on top of all the news that affects their bottom line.

Read the latest issue (July 21, 2017)

Subscribe


Inside Grain Farmers of Ontario

New episodes every week.

Episode 52: Communications – Honda Indy


Follow us

twitter   linkedin   youtube

Weekly Commentary

Get Aggregated RSS

Grain Market Commentary for July 19, 2017

Wednesday, July 19, 2017

Commodity Period Price Weekly Movement
Corn CBOT September 3.82  03 cents
Soybeans CBOT November 10.12  25 cents
Wheat CBOT September 5.03  32 cents
Wheat Minn. September 7.75  06 cents
Wheat Kansas September 5.00  44 cents
Chicago Oats September 2.93  11 cents
Canadian $ September 0.7950  1.00 points

Harvest 2017 prices as of the close, July 19 are as follows:
SWW @ $218.72/MT ($5.95/bu), HRW @ $218.72/MT ($5.95/bu),
HRS @ $289.01/MT ($7.87/bu), SRW @ $217.90/MT ($5.93/bu).

Read more

Market Trends

Get Aggregated RSS

Special Post June 30 USDA Market Trends Report

Tuesday, July 04, 2017

US and the World

It can be an explosive time in the grain markets. Across the greater US corn belt corn, soybeans and wheat are showing great variability as we head into July. Historically, the July 4th weekend has always served as a market flashpoint as crops start to develop quickly and summer weather makes its impact. The June 30th USDA planted acreage estimates and quarterly stocks report also impact the market at this critical time. In 2017, we are here again and once again the USDA did provide some surprises for market action.

Listen to the podcast

In their June 30th USDA report many market observers were musing that US soybean acres may overtake US corn acres planted. However, that was not the case as USDA predicted US corn planting at 90.89 million acres and US soybean planting coming in at 89.51 million acres. US corn acreage is down 3.11 million acres from last year. The US soybean acreage was approximately 440,000 acres below pre report estimates, but still 7% higher than last year. All wheat acreage came in at approximately 45.66 million acres, which was the lowest since the USDA began keeping records in 1919.

Read more

sustainability
mobile apps