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Business risk management reform proposed at FPT meeting

Press release

GUELPH, ON (May 11, 2017) – Grain Farmers of Ontario commends Minister Leal for shining a spotlight on the need for comprehensive reform of business risk management programs for farmers.

A Federal-Provincial-Territorial meeting of Ministers responsible for agriculture was held yesterday in Ottawa to discuss the next agricultural policy framework. At this meeting, Minister Leal proposed a review of business risk management programs. He also noted that Ministers have asked officials to continue to work on a path forward that would address business risk management and other aspects of the agricultural policy framework as part of an overall package that will be presented at their July Annual Conference.

"We commend Minister Leal for his leadership in addressing the need for a rebuild of business risk management programming," says Mark Brock, Chair of Grain Farmers of Ontario. "Our members appreciate the effort and collaboration involved to bring this important issue to the forefront of national discussions. Not only did Minister Leal represent Ontario farmers, but he spoke for all Canadian farmers today and we urge other provincial Ministers to join and support him."

Grain Farmers of Ontario is pleased to see continued momentum towards reforming these programs. Good risk management programming ensures farmers have the confidence and security to continue producing high quality crops for our country, investing back into their farms and their land, and innovating to improve farming practices for the future.

"Managing risk is an ongoing and critical aspect of farming," notes Brock. "Yesterday's discussion was timely as the recent flooding events across Ontario are a strong reminder of the unpredictability that farmers work with each year."

Grain Farmers of Ontario, along with Canada's AgGrowth Coalition, will continue to drive the importance of this issue at both the provincial and national levels.

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 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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Market Trends Report for July-August 2017

Monday, July 24, 2017

It is a sizzling summer in the American heartland with North and South Dakota taking the brunt of a devastating drought, which has impacted spring wheat country. Temperatures across the American Midwest have been triple digit for much of July and it remains to be seen how this will impact corn and soybean crops in the United States. The 30-day forecast for the American Midwest is for a continuance of hot and dry weather.

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On July 12th the USDA weighed in with their latest estimates of US crop production. In the report the USDA increased US corn production at 14.255 billion bushels with the US national yield sustained at 170.7 bushels per acre. At the same time the USDA increased soybean production to 4.26 billion bushels. This was based on a five million bushel increase based on expected harvested area at 48 bushels/acre.

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