News

Grain Farmers of Ontario announces interim payment for pool program

GUELPH, ON (January 26, 2017) – Grain Farmers of Ontario is pleased to announce the interim payment for wheat that has been marketed though the pool program.

"When producers enter in the wheat pool, Grain Farmers of Ontario markets the pooled wheat on their behalf," says Todd Austin, Manager of Wheat Marketing, Grain Farmers of Ontario. "Interim payments are made in January and final payments the following August, so the Pool spreads out cash flow and can be a tool to help manage your price risk."

The following table shows the interim payment and the January initial payment.

Wheat class Initial payment at delivery Interim payment
SWW (Pool A) $130.00 $15.00
HRW (Pool B) $140.00 $15.00
HRS (Pool C) $140.00 $30.00
SRW (Pool E) $130.00 $20.00
Feed wheat (Pool G) $110.00 $40.00

Note: all payments are in metric tonnes and based on delivery to a landed basis point.

Grain Farmers of Ontario issues and regularly updates the pool return outlook for all wheat classes at www.gfo.ca/WheatMarketing. Pool participants with questions are encouraged to call the Wheat Marketing Department at call 1-800-265-0550.

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:

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

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 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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