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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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Grain Market Commentary for May 24, 2017

Wednesday, May 24, 2017

May 24, 2017

Commodity Period Price Weekly Movement
Corn CBOT July 3.71  01 cents
Soybeans CBOT July 9.48  18 cents
Wheat CBOT July 4.32  05 cents
Wheat Minn. July 5.61  20 cents
Wheat Kansas July 4.33  07 cents
Chicago Oats July 2.38  05 cents
Canadian $ June 0.7450  1.15 points

Harvest 2017 crop cash prices as of close on May 24, 2017
SWW @ $198.77/MT ($5.41/bu), HRW @ $198.77/MT ($5.41/bu),
HRS @ $227.86/MT ($6.20/bu), SRW @ $198.77/MT ($5.41/bu).

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Market Trends Report for May-June 2017

Tuesday, May 23, 2017

It is go time, that time of year when farmers across the great North American Corn Belt are busy planting their crops. Weather has been a detriment across much of the US Corn Belt as wet weather has farmers out of the fields in the southern, central and eastern US. With the USDA projecting a big soybean acreage this year and a reduction of corn acreage, weather will be the final determinate. For the week ending on May 14, 2017, the USDA had begged US corn planting at 71% and US soybeans planted at 32% just slightly behind normal.

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