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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 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

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Special Post June 30 USDA Market Trends Report

Tuesday, July 04, 2017

US and the World

It can be an explosive time in the grain markets. Across the greater US corn belt corn, soybeans and wheat are showing great variability as we head into July. Historically, the July 4th weekend has always served as a market flashpoint as crops start to develop quickly and summer weather makes its impact. The June 30th USDA planted acreage estimates and quarterly stocks report also impact the market at this critical time. In 2017, we are here again and once again the USDA did provide some surprises for market action.

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In their June 30th USDA report many market observers were musing that US soybean acres may overtake US corn acres planted. However, that was not the case as USDA predicted US corn planting at 90.89 million acres and US soybean planting coming in at 89.51 million acres. US corn acreage is down 3.11 million acres from last year. The US soybean acreage was approximately 440,000 acres below pre report estimates, but still 7% higher than last year. All wheat acreage came in at approximately 45.66 million acres, which was the lowest since the USDA began keeping records in 1919.

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