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Initial prices and pool return outlook for wheat pool announced

GUELPH, ON (June 18, 2014) – Grain Farmers of Ontario is pleased to announce the initial payments and pool return outlook for the six wheat pools managed by the Wheat Marketing team. 

When assessing their options this year, producers should consider the initial prices as an advance payment on the Project Return Outlook (PRO), estimated at 65% of total value.

Grain Farmers of Ontario’s initial prices do not always provide a true comparison of value versus cash prices of wheat. The Pool Return Outlook is an estimation of (based on current market conditions) how various classes of wheat should be expected to perform in the marketplace.

Grain Farmers of Ontario’s initial PRO calculations for the 2014 wheat marketing year are as follows:

Wheat Class Pool Return Outlook
Soft White Winter (Pool A) $223.00
Hard Red Winter (Pool B) $235.00
Hard Red Spring (Pool C) $250.00
Soft Red Wheat (Pool E) $219.00
Hard Red (Pool F) $219.00

“The Pool allows growers to move grain at harvest, while still taking advantage of grain markets post-harvest,” says Todd Austin, Manager of Wheat Marketing at Grain Farmers of Ontario. “It spreads out cash flow, and historically hits market average or better, so it can be a good insurance policy.”

Grain Farmers of Ontario will issue and periodically update the Pool Return Outlook, or PRO for all classes of wheat. The PRO is a price indication based on current nearby and forward markets, and is an indication or projection of potential returns based on current prices and economic conditions.

Grain Farmers of Ontario also offers an online calculator to compare PRO return and elevator cash prices. The calculator, as well as a list of Grain Farmers of Ontario authorized agents can be found at www.gfo.ca/WheatMarketing

Pre-Pool Contracts have to be established with Grain Farmers of Ontario no later than August 16th. For more information, call 1-800-265-0550 or visit www.gfo.ca/WheatMarketing.

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:

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

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