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New federal budget benefits Ontario grain farmers

GUELPH, ON (April 23, 2015) – Grain Farmers of Ontario is pleased with the Government of Canada’s recently introduced 2015-2016 Budget. The budget will benefit Ontario Farmers through the increase in the Lifetime Capital Gains Exemption, and expansion in the agricultural market access initiative and the AgriMarketing program.

“The increase in the Lifetime Capital Gains Exemption will be of great benefit to all farmers,” says Mark Brock, Chair, Grain Farmers of Ontario. “Increasing land prices have resulted in farmers disposing of their assets for significantly higher prices than they originally paid, and the Exemption will help ensure investment back into the farm.

The Lifetime Capital Gains Exemption provides an incentive to invest in the development of productive farm and fishing businesses and helps owners accumulate capital for retirement. Farmers can qualify for a lifetime tax exemption when disposing of their property, up to $1 million.

The expansion of market access activities will support the agriculture sector in continuing to find new markets and continuing to capitalize on opportunities created by trade agreements. The AgriMarketing Program will promote Canadian agricultural and agri-food products around the world.

“The competitiveness of Ontario grains is essential to a healthy and growing Ontario grain industry,” says Brock. “Ontario grains are high quality and in high demand around the world. We look forward to expanding and diversifying markets and further capitalizing on opportunities domestically and internationally with funding provided by this budget.”

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:

Mark Brock, Chair - 519-274-3297; cropper01@hotmail.com

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

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Grain Market Commentary for May 31, 2017

Wednesday, May 31, 2017

May 31, 2017

Commodity Period Price Weekly Movement
Corn CBOT July 3.71  01 cents
Soybeans CBOT July 9.26  22 cents
Wheat CBOT July 4.30  02 cents
Wheat Minn. July 5.72  11 cents
Wheat Kansas July 4.31  01 cents
Chicago Oats July 2.48  10 cents
Canadian $ June 0.7402  0.45 points

Harvest 2017 crop cash prices as of close on May 31, 2017
SWW @ $198.22/MT ($5.39/bu), HRW @ $198.22/MT ($5.39/bu),
HRS @ $233.70/MT ($6.36/bu), SRW @ $198.22/MT ($5.39/bu).

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Market Trends Report for June-July 2017

Monday, June 12, 2017

It is a critical time of the year for grain markets. Across the US corn belt as well as Ontario, farmers have been planting since mid April. It continues. As of May 28th 91% of US corn has been planted and 67% of US soybeans. There are wide variations on this theme as the Eastern and Southern corn belt has seen more of its share of wet weather causing many planting delays. As we move into late June it is a time where the US crop is setting up to be made and marketing decisions for that crop are accentuated by market volatility. The June 9th USDA report gave us another indication of the supply of grain in the US and around the world.

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