GUELPH, ON (November 8, 2010) – Grain Farmers of Ontario is launching an online Risk Management Program calculator today at wwww.gfo.ca/rmp to coincide with the release of the 2010 pre-harvest payment information by Agricorp.
The RMP calculator allows growers to measure how the program will assess their farm’s 2010 production, under a range of price scenarios. Growers can enter their individual acreage and crop mix into the calculator and change the coverage levels to determine the best possible outcome.
“The goal of RMP has always been predictability and bankability and GFO wants to ensure that aspect of the program is fulfilled in a comprehensive and accessible format,” says Erin Fletcher, Manager, Public Affairs and Communications for GFO.
The calculator will also allow growers to enter an expected post-harvest price to run potential post-harvest scenarios. The post-harvest prices for corn and soybeans are the daily average for Chatham delivery from October 2010 through to March 2011. The winter wheat post-harvest price is calculated from July to December 2010 using a weighted average daily price from a range of buyers, including GFO (wheat board), terminals, and elevators.
Grain Farmers of Ontario is optimistic about the future of the Risk Management Program in Ontario. Participation is a key factor in the evaluation of the program and also may determine future eligibility for growers. RMP was always intended to be an insurance type program to be invested in for the long term and GFO hopes this will continue to be a consideration for those determining their participation in 2010.
Grain Farmers of Ontario
Grain Farmers of Ontario is the province’s largest commodity organization, representing Ontario’s 28,000 corn, 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.