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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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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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