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Grain Farmers of Ontario Welcomes Signing of CETA

GUELPH, ON (November 2, 2016) – Grain Farmers of Ontario welcomes the signing of the Comprehensive Economic and Trade Agreement (CETA) between the European Union (EU) and Canada. CETA will benefit farmers by providing more access for Ontario wheat producers, and more secure access for Ontario barley, corn, oat, and soybean producers.

"The signing of this agreement demonstrates strong leadership by the Government of Canada," says Mark Brock, Chair, Grain Farmers of Ontario. "We congratulate all those involved for achieving this milestone in the establishment of CETA."

On Sunday, October 30 Prime Minister Justin Trudeau, Donald Tusk, President of the European Council, and Jean-Claude Juncker, President of the European Commission signed CETA, which finalized negotiations that started in 2009. CETA will open up the EU market to Canadian businesses and will eliminate close to 94 per cent of agricultural tariff lines.

Grain Farmers of Ontario supports more open international trade to limit market access impediments and allow Ontario’s grain farmers to compete on a level playing field in world markets. The announcement of CETA with the EU will reduce trade barriers and allow for the development of new markets for Ontario grains.

"Increased access through CETA will lead to even greater trade with the EU – an important export partner for the grains sector," says Brock.

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 August 16, 2017

Wednesday, August 16, 2017

Commodity Period Price Weekly Movement
Corn CBOT September 3.52  20 cents
Soybeans CBOT November 9.25  53 cents
Wheat CBOT September 4.20  44 cents
Wheat Minn. September 6.73  60 cents
Wheat Kansas September 4.20  24 cents
Chicago Oats September 2.60  10 cents
Canadian $ September 0.7898  0.15 points

Harvest 2017 prices as of the close, August 16 are as follows:
SWW @ $182.43/MT ($4.96/bu), HRW @ $189.46/MT ($5.16/bu),
HRS @ $254.49/MT ($6.93/bu), SRW @ $187.11/MT ($5.09/bu).

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Market Trends

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Market Trends Report for August-September 2017

Monday, August 14, 2017

US and World

It has been an uneven growing season in much of the American corn belt. The Western corn belt has been dry especially in the Dakotas, while the mid south and Eastern corn belt were inundated with heavy rains earlier in the spring. The forecast in late July turned cooler and wetter for all of the American corn belt. This new forecast essentially changed much of the outlook for the American crop, but still many analysts were expecting lower August USDA numbers reflecting some of the earlier tough conditions for US corn and soybeans. Anticipation of the August 10th USDA report was filled with expectations of lower yield projections.

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On August 10th, the USDA lowered their projected corn yield estimate to 169.5 bushels per acre down from their earlier projection of 170.7 bushels per acre and less than last year's 174.6 bushels per acre. At the same time the USDA raised soybean yield expectations to 49.4 bushels per acre up from their 48 bushels per acre earlier estimate. This pegged 2017/18-soybean production at 4.4 billion bushels. Both of these USDA estimates rocked the grain market August 10th, as it was a big surprise. With so much uneven weather affecting this crop in the field a US corn yield of 165-166 bushels per acre was a general trade estimate. Futures prices plummeted on this very bearish report.

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