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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 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).

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Market Trends Report for July-August 2017

Monday, July 24, 2017

It is a sizzling summer in the American heartland with North and South Dakota taking the brunt of a devastating drought, which has impacted spring wheat country. Temperatures across the American Midwest have been triple digit for much of July and it remains to be seen how this will impact corn and soybean crops in the United States. The 30-day forecast for the American Midwest is for a continuance of hot and dry weather.

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On July 12th the USDA weighed in with their latest estimates of US crop production. In the report the USDA increased US corn production at 14.255 billion bushels with the US national yield sustained at 170.7 bushels per acre. At the same time the USDA increased soybean production to 4.26 billion bushels. This was based on a five million bushel increase based on expected harvested area at 48 bushels/acre.

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