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GRAIN FARMERS OF ONTARIO ANNOUNCES INITIAL PRICES AND POOL RETURN OUTLOOK FOR WHEAT POOL

GUELPH, ON (June 9, 2016) – Grain Farmers of Ontario is pleased to announce the initial payments and pool return outlook (PRO) for the six wheat pools managed by the Wheat Marketing team.

To assess options this year, producers should consider initial prices as an advanced payment on the PRO, estimated at 65 per cent of total value. The PRO is an estimation based on current market conditions of how various classes of wheat should be expected to perform in the marketplace. Grain Farmers of Ontario’s initial payments for the 2016 wheat marketing year are:

Wheat Class                       Initial Prices ($/tonne)

SWW (Pool A)                    $130

HWR (Pool B)                     $140

HRS (Pool C)                       $140

SRW (Pool E)                      $130

RW (Pool F)                        $130

FEED (Pool G)                    $110

“The Pool allows growers to move grain at harvest while taking advantage of post-harvest markets, which spreads out cash flow,” says Todd Austin, Manager of Wheat Marketing, Grain Farmers of Ontario. “Historically it hits market average or better, so it can be a good insurance policy.”

Grain Farmers of Ontario issues and regularly updates the PRO for all wheat classes at www.gfo.ca/WheatMarketing.

Grain Farmers of Ontario also has pre-pool contracts and post-pool contracts. Pre-pool contracts offer an advance above the initial price to bring the value closer to 70 per cent to the current cash price. Pre-pool contracts have to be established with Grain Farmers of Ontario no later than August 31. Post-pool contracts allow for delivery into the pool after September and into the spring. For more information, call 1-800-265-0550 or visit www.gfo.ca/wheatmarketing.

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

Todd Austin, Manager, Marketing – 519-767-4118; taustin@gfo.ca 

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