News

Canada-Korea FTA opens new opportunities for Ontario grain

GUELPH, ON (March 11, 2014) – Grain Farmers of Ontario is pleased with the announcement that Canada and the Republic of Korea have concluded negotiations for a bilateral free trade agreement. We encourage the government to ratify this agreement as quickly as possible so that Ontario farmers may begin to see the benefits of this agreement.   

The Canada-Korea Free Trade Agreement (FTA) will create market opportunities for Ontario's corn, soybean, and wheat farmers that were previously unattainable. 

"The Canada-Korea FTA provides increased market access for Ontario grains, as well as other agricultural commodities," says Henry Van Ankum, Chair of Grain Farmers of Ontario. "This Agreement specifically opens new market opportunities for our Identity Preserved soybeans, and removes trade barriers currently limiting our corn, soybean, and wheat exports.”

One of the groups involved in the discussions leading up to the Canada-Korea FTA has been the Canadian Soybean Exporters' Association (CSEA). Canada exported more than 17,000 metric tonnes to Korea in 2013; but as this only accounted for four percent of their total imports, there is the potential for significant market share increase within this new FTA. 

"As an exporting organization, the CSEA is supportive of the new volumes achieved for food grade Identity Preserved soybeans within the Canada-Korea FTA, and feels it will be positive to the Canadian soybean sector, including both growers and exporters," says Dave Buttenham, Secretary Manager of the CSEA. 

Grain Farmers of Ontario is encouraged by the conclusion of these negotiations and strongly supports the work of all involved towards the ratification of the Canada-Korea FTA.

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

Henry Van Ankum, Chair - 519-835-4200; henryvanankum@sympatico.ca

Meghan Burke, Communications – 519 767-2773; mburke@gfo.ca

Stay in touch

Register for the March Classic

March Classic logo

Leadership for Tomorrow: March 20, 2018, at the London Convention Centre.

Register here


Annual Report

The 2017 Grain Farmers of Ontario Annual Report is now available.

Read it now or download a .pdf.


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 (January 17, 2018)

Subscribe


Inside Grain Farmers of Ontario

New episodes every week.

Episode 68: Research

Weekly Commentary

Get Aggregated RSS

Grain Market Commentary for January 17, 2018

Wednesday, January 17, 2018

Grain Farmers of Ontario farmer-members are invited to attend two full-day marketing seminars on grain marketing: Intro to Futures & Options, as well as the more advanced Options & Technical Analysis.

Register now

Commodity Period Price Weekly Movement
Corn CBOT March 3.53  04 cents
Soybeans CBOT March 9.69  15 cents
Wheat CBOT March 4.21  13 cents
Wheat Minn. March 6.12  22 cents
Wheat Kansas March 4.27  13 cents
Chicago Oats March 2.54  09 cents
Canadian $ March 0.8060  0.80 points

Cash Grain prices as of the close, January 17, are as follows: SWW @ $176.58/MT ($4.81/bu), HRW @ $181.14/MT ($4.93/bu), HRS @ $231.22/MT ($6.29/bu), SRW @ $176.58/MT ($4.81/bu).

Read more

Market Trends

Get Aggregated RSS

Market Trends Report for January-February 2018

Monday, January 15, 2018

US and World

Winter weather blows across North American farm country as another year has gone and we greet 2018. The 2017 growing season was very uneven across North America, but memories of that are fading. Grain prices have suffered under the specter of big crop numbers that have been projected by both the USDA and private analysts throughout 2017. The January USDA report is always the final report on the crop year that past. On January 12th the USDA released a plethora of crop numbers, which will define the grain marketplace for the coming year.

Listen to the podcast

On January 12th, the USDA increased 2017 US corn production to 14.6 billion bushels, on a harvested acreage of 82.7 million acres. The average yield was increased to 176.6 bushels per acre, which was 2 bushels above the 2016/17 crop. 2017/18 corn ending stocks were raised to 2.48 billion bushels. Total corn usage was actually reduced to 14.470 billion bushels, down from 14.485 last month. US exports are down and US ethanol corn usage was down from December. Corn stored on December 1 was 12.516 billion bushels, which was above trade expectations.

Read more

sustainability
mobile apps