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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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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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