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Grains Innovation Fund accepting applications

Press release

GUELPH, ON (September 21, 2017) – Grain Farmers of Ontario is now accepting applications for the Grains Innovation Fund to support new and expanded markets for Ontario barley, corn, oats, soybeans, and wheat.

“Since the organizations’ inception, Grain Farmers of Ontario has dedicated resources to supporting novel, new, and increased utilization of our crops,” says Mackellar. “The Grains Innovation Fund was officially launched in 2010 and we have supported over 35 projects to date and provided over $900,000 in funding.”

Projects that satisfy the eligibility criteria for the Grains Innovation Fund can receive up to 60% of the cost of the project, up to a maximum of $50,000. Eligible projects must open new markets for Ontario grains, expand the use and demand for Ontario grains, promote Ontario grains as the best choice, identity preserve varieties for novel uses, and/or increase the value (premiums) or Ontario grains.

“The Market Development Committee, comprised of Grain Farmers of Ontario directors and farmer-members, considers and reviews all applications,” says Mackellar. “We look forward to seeing what new initiatives and growth opportunities we can support in the coming year.”

Applications for the Grains Innovation Fund must be submitted by November 6, 2017. Information about the fund and the application process is available at www.gfo.ca/market-development or by contacting Justin Shepherd, Market Development Coordinator at jshepherd@gfo.ca or 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:

Nicole Mackellar, Manager, Market Development – 519 767-4124; nmackellar@gfo.ca

Meghan Burke, Communications – 519 767-2773; mburke@gfo.ca

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Grain Market Commentary for October 12, 2017

Thursday, October 12, 2017

Commodity Period Price Weekly Movement
Corn CBOT December 3.49  06 cents
Soybeans CBOT November 9.92  34 cents
Wheat CBOT December 4.30  12 cents
Wheat Minn. December 6.12  02 cents
Wheat Kansas December 4.26  10 cents
Chicago Oats December 2.62  16 cents
Canadian $ December 0.8030  0.15 points

Harvest 2017 prices as of the close, October 12 are as follows: SWW @ $183.52/MT ($4.99/bu), HRW @ $192.67/MT ($5.24/bu), HRS @ $238.89/MT ($6.50/bu), SRW @ $188.09/MT ($5.12/bu).

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Market Trends Report for October-November 2017

Monday, October 16, 2017

It is that time of year again when combines are rolling. However, uneven weather in parts of the American corn belt and Ontario has delayed harvest. There is nothing particularly unusual about this as we have it every year. US crops are huge coming off the fields and the market will certainly be making further adjustments. The final determinant on yield will come in the January USDA report. However, the October USDA report released October 12th helped to re-focus the trajectory of grain prices as we head into the end of the 2017.

In the October 12th report USDA increased US national corn yield to 171.8 bushels per acre, an increase of 1.9 bushels per acre over their September estimate. This put 2017/2018-corn production at 14.28 billion bushels on the high-end of pre-report estimates. The USDA also pegged corn-ending stocks at 2.34 billion bushels, which was up 5 million bushels from their September estimate. This number was a bit of a surprise especially with which dry weather throughout the American Midwest the summer.

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USDA estimated soybean production to be at 4.431 billion bushels, which was a decrease from their September estimate. This was based on a .4 bushel/acre cut in US national yield down to 49.5 bushels per acre. However, the US soybean harvested acreage is at a record high of 89.5 million acres, which was up 1% from the USDA September estimate. The US domestic soybean ending stocks were also pegged at 430 million bushels, which was down 45 million bushels from their September estimate. This was generally looked at as bullish on report day and soybeans responded by going up $.26 a bushel. US domestic wheat stocks were set at 960 million bushels, which was 27 million bushels higher than their September estimate.

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