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GRAIN FARMER INPUTS ESTIMATED OVER 1 BILLION DOLLARS

GUELPH, ON (May 25, 2016) – Farmers across the province have invested $1.25 billion on inputs for this season’s grain crops.

Ontario’s barley, corn, oat, soybean, and wheat farmers are actively working the fields this month to give their crops the best chance of success, to ultimately feed and fuel the province. It is estimated that farmers have committed about $1.25 billion to inputs, including seeds and seed treatments, fertilizers, and pesticides based on Statistics Canada’s March 2016 intentions of principal field crop areas for Ontario and the Ontario Ministry of Agriculture’s 2016 Field Crop Budget per-acre input costs.

planting in 2016

“Every year farmers invest significant financial resources in their crops,” says Mark Brock, Chair of Grain Farmers of Ontario. “At this time of year, our expenses are high and turning a profit at harvest is never a guarantee. It’s not uncommon for a farmer to spend several hundred thousand dollars just to get their crops started.”

Across the province, most regions are experiencing reasonable planting conditions, but warm weather is needed for germination of the spring crops. Farmers are anxious to see their crops emerge, as planted seeds are vulnerable to soil-borne insects. Grain farmers operate on small profit margins, so the financial risk of seed or crop loss is significant.

“There is a lot of risk, both environmental and financial, in grain farming,” says Brock. “Input costs are just one part of it – there are also labour costs, research and administration time, equipment maintenance and repairs, and a lot of personal energy spent on the land and crops.”

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 over 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

Maegan MacKimmie, Communications –  519 767-4137; mmackimmie@gfo.ca

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Commodity Period Price Weekly Movement
Corn CBOT March 3.65 ↑ 01 cents
Soybeans CBOT March 10.33 ↑ 14 cents
Wheat CBOT March 4.48 ↓ 06 cents
Wheat Minn. March 6.01 ↑ 01 cents
Wheat Kansas March 4.66 ↓ 09 cents
Chicago Oats March 2.59 ↓ 08 cents
Canadian $ March 0.7890 ↓ 1.03 points

Cash Grain prices as of the close, February 21, are as follows: SWW @ $205.96 ($5.61/bu), HRW @ $203.63/MT ($5.54/bu), HRS @ $231.13/MT ($6.29/bu), SRW @ $201.30/MT ($5.48/bu).

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Market Trends Report for February-March 2018

Monday, February 12, 2018

The winter season in North America is often one of hopes and dreams. With the January 2018 USDA report a month old the scope of the 2017 crop is now becoming a memory. Farmers have turned the page and will soon be planting corn in places like Texas. However, in the southern hemisphere corn and soybean crops are growing in the field and affecting prices every day. While the northern hemisphere freezes under the snow, weather in Argentina and Brazil has been defining the initial grain fundamentals for 2018.

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On February 8th, the USDA released its latest World Supply and Demand Estimates. (WASDE) The USDA lowered US corn ending stocks to 2.352 billion bushels down 125 million bushels from last month. This was totally related to an increase in US corn exports by the same amount. This was attributed to a weakened US dollar and reduction in both Argentinian and Ukrainian corn exports. Hot weather in Argentina had USDA lowering their corn production 2.8 MMT to 39 MMT. USDA maintained Brazil corn production of 95 MMT.

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