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Grain Farmers of Ontario announces initial prices and pool return outlook for wheat pool

GUELPH, ON (June 17, 2015) – 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.

Initial payments are estimated at 65% of total value of the Pool Return Outlook (PRO) and should be considered an advanced payment. The PRO is an estimation based on current market conditions of how various classes of wheat could be expected to perform in the marketplace.

Grain Farmers of Ontario’s initial PRO calculations for the 2015 wheat marketing year are as follows:

The Pool Return Outlook (PRO):

Pool A (SWW):                $274.00/mt or $7.46/bu

Pool B (HRW):                $245.00/mt or $6.66/bu

Pool C (HRS):                 $251.00/mt or $6.84/bu

Pool E (SRW):                 $217.00/mt or $5.91/bu

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

Grain Farmers of Ontario also offer Pre-Pool Contacts which offer an advance above the initial price to bring the value closer to 70% of our cash price.

Pre-Pool Contracts have to be established with Grain Farmers of Ontario no later than August 31st. For more information, call 1-800-265-0550 or visit http://gfo.ca/WheatMarketing.aspx.

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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Commodity Period Price Weekly Movement
Corn CBOT March 3.65 ↑ 01 cents
Soybeans CBOT March 10.33 ↑ 14 cents
Wheat CBOT March 4.48 ↓ 06 cents
Wheat Minn. March 6.01 ↑ 01 cents
Wheat Kansas March 4.66 ↓ 09 cents
Chicago Oats March 2.59 ↓ 08 cents
Canadian $ March 0.7890 ↓ 1.03 points

Cash Grain prices as of the close, February 21, are as follows: SWW @ $205.96 ($5.61/bu), HRW @ $203.63/MT ($5.54/bu), HRS @ $231.13/MT ($6.29/bu), SRW @ $201.30/MT ($5.48/bu).

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The winter season in North America is often one of hopes and dreams. With the January 2018 USDA report a month old the scope of the 2017 crop is now becoming a memory. Farmers have turned the page and will soon be planting corn in places like Texas. However, in the southern hemisphere corn and soybean crops are growing in the field and affecting prices every day. While the northern hemisphere freezes under the snow, weather in Argentina and Brazil has been defining the initial grain fundamentals for 2018.

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