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Grain farmers look to federal leaders for a commitment on business risk management

GUELPH, ON (September 21, 2015) – As the federal election candidates turn their attention to agriculture policy, Grain Farmers of Ontario looks forward to commitments on business risk management programs for farmers.

Ontario grain and oilseed farmers require access to risk management programs that are timely, predictable, bankable, and straightforward, including a permanent suite of fully-funded federal Business Risk Management (BRM) programs.

“Grain farming is a high risk business and farmers face many challenges every year like volatile prices and weather patterns,” says Mark Brock, Chair of Grain Farmers of Ontario. “We also have to compete in a global marketplace that is influenced by government supports in other countries, requiring us to be innovative in order to remain competitive.”

BRM is a key to innovation and competition in a global environment, allowing grain farmers to adopt innovative practices in order to remain competitive while providing stability so that farmers have the confidence to invest in their operations.

“Right now, we have AgriStability as one of the federal-provincial Growing Forward 2 suite of BRM programs – but it’s not working for Ontario’s grain farmers,” says Brock.

Grain Farmers of Ontario is seeking a commitment from the federal leaders to review the AgriStability program for grain and oilseed producers with a view to replacing it with a more predictable and transparent program that works to provide income stabilization for grain and oilseed farmers. 

Grain Farmers of Ontario

Grain Farmers of Ontario is the province’s largest commodity organization, representing Ontario’s 28,000 barley, corn, oat, 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

Deb Conlon, Manager, Government Relations - 416-805-4490; dconlon@gfo.ca

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Weekly Commentary

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Grain Market Commentary for September 20, 2017

Wednesday, September 20, 2017

Commodity Period Price Weekly Movement
Corn CBOT December 3.50  01 cents
Soybeans CBOT November 9.70  11 cents
Wheat CBOT December 4.50  07 cents
Wheat Minn. December 6.22  12 cents
Wheat Kansas December 4.48  05 cents
Chicago Oats December 2.46  08 cents
Canadian $ December 0.8115  0.75 points

Harvest 2017 prices as of the close, September 20 are as follows:
SWW @ $190.53/MT ($5.19/bu), HRW @ $199.60/MT ($5.43/bu),
HRS @ $241.11/MT ($6.56/bu), SRW @ $195.06/MT ($5.31/bu).

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Market Trends

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Market Trends Report for September-October 2017

Monday, September 18, 2017

US and World

Across the US corn belt American farmers are starting to harvest another huge crop. The growing season was uneven with widespread drought in the Northwest plains and quite a wet start in the Eastern corn belt. This was accentuated by somewhat dry conditions in mid-summer, but it looks like good genetics and modern farming methods have won out. As we careen into October, US farmers are set to harvest their third-largest corn crop and the largest soybean crop ever.

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On September 12th the USDA released their latest estimates of US crops. USDA estimated US corn production would come in at 14.184 billion bushels, with an average yield of 169.9 bushels per acre. This was seen as a bit of a shock to the market as traders were expecting lower yield estimates. The USDA also increased 2017/18 ending stocks to 2.335 billion bushels, up 62 million from their August report. This US crop is approximately 6% less than last year with the yield 4.7 bushels per acre lower.

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