Grain Farmers of Ontario Announces Initial Prices for Wheat Pools
GUELPH, ON (June 15, 2020) – Grain Farmers of Ontario, the province’s largest commodity organization, representing Ontario’s 28,000 barley, corn, oat, soybean and wheat farmers, today announces the initial payment price amounts for the five wheat pools managed by Grain Farmers of Ontario.
The Grain Farmers of Ontario Wheat Pool markets wheat on behalf of its farmer-members throughout the year. Each year, Grain Farmers of Ontario announces an initial payment figure to help wheat farmers understand the starting point for the year if they take advantage of the Wheat Pool.
Grain Farmers of Ontario’s initial payments for the 2020 wheat marketing year are:
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Wheat Class / Initial Prices ($/tonne) SWW (Pool A) $160 HRW (Pool B) $167 HRS (Pool C) $160 |
Wheat Class / Initial Prices ($/tonne) SRW (Pool E) $155 Feed (Pool G) $130 |
“The Wheat Pool allows farmers to diversify their risk and spread out cash flow,” says Todd Austin, Manager of Wheat Marketing, Grain Farmers of Ontario. “By adding the Wheat Pool to their marketing strategy, farmers can move grain at harvest while taking advantage of post-harvest markets.”
Grain Farmers of Ontario has also posted the Pool Return Outlook (PRO) here. The initial prices act as an advanced payment on the PRO. This initial payment is typically estimated at 60 per cent of the total net return to the farmer. The PRO is then updated throughout the harvest season based on market conditions before further payments are calculated and distributed.
Choose Pre-Pool or Post-Pool Contracts
Grain Farmers of Ontario offers pre-pool and post-pool contracts. Pre-pool contracts offer an advance above the initial price to bring the value closer to 70 per cent of the current cash price. Pre-pool contracts must be established with Grain Farmers of Ontario prior to delivery. Post-pool contracts allow for delivery into the pool after September and into the spring. Post pool contracts are established by September 30.
Contact:
Victoria Berry, Manager, Communications – 226 820-6641; vberry@gfo.ca
