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Grain Farmers of Ontario Acknowledges First Step in Business Risk Management Reform

Press release

GUELPH, ON (July 21, 2017) – Grain Farmers of Ontario commends federal, provincial and territorial agricultural leaders across Canada for supporting business risk management reform.

Today’s announcement of a comprehensive review of the current suite of business risk management programs is welcomed by Ontario’s grain farmers. The initiative was supported by Agricultural Ministers across the country at this week’s Federal-Provincial-Territorial meetings, held in Newfoundland.

“We thank Minister Leal for championing this issue,” says Mark Brock, Chair of Grain Farmers of Ontario. “Reliable risk management programs are not just about disaster relief – having appropriate tools to manage risk enables farmers, like myself, to invest in innovations on the farm benefiting the economy, environment, and our province as a whole.”

With today’s announcement also came unexpected news of reductions to AgriInvest. The changes made to AgriInvest were a unilateral decision made by the federal government.

“The cuts to AgriInvest underline the critical need for ongoing collaboration between policy-makers and agricultural organizations,” continues Brock. “With the exception of Crop Insurance, AgriInvest is the only program, within the suite of risk management programs, that works well for our farmer-members and we hope for much more appropriate and effective steps forward through this review process.”

Grain Farmers of Ontario is disappointed that the federal government has adjusted this important program, ahead of the comprehensive review of the whole suite of programs. As the review process moves forward, it is critical that effective programs, like AgriInvest, do not suffer. Options coming out of the review are scheduled to be presented July 2018.

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

Deb Conlon, Manager, Government Relations - 416-805-4490; dconlon@gfo.ca

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Grain Market Commentary for December 6, 2017

Wednesday, December 06, 2017

Commodity Period Price Weekly Movement
Corn CBOT March 3.52  01 cents
Soybeans CBOT January 10.03  10 cents
Wheat CBOT March 4.25  10 cents
Wheat Minn. March 6.14  09 cents
Wheat Kansas March 4.23  06 cents
Chicago Oats March 2.48  15 cents
Canadian $ December 0.7835  0.50 points

Cash Grain prices as of the close, December 6, are as follows: SWW @ $178.23/MT ($4.85/bu), HRW @ $187.61/MT ($5.11/bu), HRS @ $238.74/MT ($6.50/bu), SRW @ $182.92/MT ($4.98/bu).

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Market Trends Report for November-December 2017

Monday, November 13, 2017

US and World

Harvest time is in full swing across United States and Ontario. There have been delays, but as usual, farmers in 2017 like they have many times before are finding ways to get the crop in the bin. Yield monitors flickering on social media have been a harbinger of big yields in the United States as one of the biggest crops in American history gets closer to the finish line. How big that crop has become has been a great subject of debate over the last several months.

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On November 9th USDA chimed in with their latest crop production report. In a surprise move, which shocked the market the USDA raised 2017/2018-corn production to 14.58 billion bushels. This was on a projected yield of 175.4 bushels per acre, which was up from its October estimate of 171.8 bushels per acre. This was outside any pre-report estimates on the high side and the market responded accordingly by falling seven cents on the day. If this yield comes to fruition, it will be the largest US domestic corn yield in history. US domestic corn stocks are projected to increase to 2.49 billion bushels, a very onerous figure headed into next year.

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