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Grain Farmers of Ontario supports TPP agreement

GUELPH, ON (October 5, 2015) – Grain Farmers of Ontario welcomes the successful completion of the Trans-Pacific Partnership (TPP) negotiations.

The TPP expands opportunities for grain export to important and growing markets, particularly in Southeast Asia.

“Japan is our largest market for food-grade soybeans, and countries like Malaysia and Vietnam have fast-growing GDPs and are major markets for both food-grade and crush soybeans,” says Mark Brock, Chair of Grain Farmers of Ontario. “With market development a key pillar of our organization, improved access to these important export countries is a great success for our farmer-members.”

While reduced tariffs and increased market access are a great growth opportunity, grain farmers continue to look for leadership at the federal level on business risk management. With an impressive financial commitment being made to the supply management sector to compensate for the effects of TPP, Grain Farmers of Ontario is keen to see the same level of attention and commitment given to risk management for grain farmers.

“The Ontario grain industry is export-oriented and agreements like the TPP that increase access to export markets are always encouraged,” says Brock. “While this is a great step forward, we need the next governing party of Canada to demonstrate a commitment to risk management programs for grain 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

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

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Grain Market Commentary for November 15, 2017

Thursday, November 16, 2017

Commodity Period Price Weekly Movement
Corn CBOT December 3.38  10 cents
Soybeans CBOT January 9.75  15 cents
Wheat CBOT December 4.20  02 cents
Wheat Minn. December 6.25  11 cents
Wheat Kansas December 4.18  02 cents
Chicago Oats December 2.69  02 cents
Canadian $ December 0.7835  0.60 points

Cash grain prices as of the close, November 15 are as follows: SWW @ $182.95/MT ($4.98/bu), HRW @ $192.33/MT ($5.23/bu), HRS @ $251.44/MT ($6.84/bu), SRW @ $187.64/MT ($5.11/bu).

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Market Trends Report for November-December 2017

Monday, November 13, 2017

US and World

Harvest time is in full swing across United States and Ontario. There have been delays, but as usual, farmers in 2017 like they have many times before are finding ways to get the crop in the bin. Yield monitors flickering on social media have been a harbinger of big yields in the United States as one of the biggest crops in American history gets closer to the finish line. How big that crop has become has been a great subject of debate over the last several months.

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On November 9th USDA chimed in with their latest crop production report. In a surprise move, which shocked the market the USDA raised 2017/2018-corn production to 14.58 billion bushels. This was on a projected yield of 175.4 bushels per acre, which was up from its October estimate of 171.8 bushels per acre. This was outside any pre-report estimates on the high side and the market responded accordingly by falling seven cents on the day. If this yield comes to fruition, it will be the largest US domestic corn yield in history. US domestic corn stocks are projected to increase to 2.49 billion bushels, a very onerous figure headed into next year.

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