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Further disappointment surrounding Bill C-474

Grain Farmers of Ontario struggles with bill passing second reading

GUELPH, ON (April 15, 2010) – Grain Farmers of Ontario (GFO) is greatly disappointed with the result of the second reading of bill C-474 last night. The bill passed last evening with 153 voting in favour and 134 opposed. The bill now goes to the Agriculture Standing Committee for review.

Bill C-474 calls for an amendment to the Seeds Regulations to require that an analysis of potential harm to export markets be conducted before the sale of any new genetically engineered seed is permitted. The effect of this bill will be to introduce non science-based criteria to Canada’s evaluation and approval process for biotech seeds. A move in this direction would represent a serious and dangerous departure from a science based regulatory approach – an approach that has served farmers well in defending Canada’s ability to export agricultural production to other countries.

“A move to depart from a science-based regulatory approach would be an open invitation for other countries to impose non-science based trade barriers on Canada’s grain exports” said Barry Senft, CEO of GFO.

Bill C-474 would eliminate advantages now enjoyed by Ontario farmers and consumers by introducing unpredictable factors into the regulatory process. The bill could indefinitely delay all future approvals on the basis that there may be one country somewhere that would not accept genetically modified crops.

A coalition of farm groups, including GFO, opposed to bill C-474 will take the time prior to their testimony at the Agriculture Standing Committee to build a strong case against the bill and to ensure farmers from across Canada are represented on the issue.

Farmers are encouraged to contact GFO for more information and arrange a meeting with their local MP to discuss the impact this issue will have on Ontario farmers. 

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.

Contact:

Barry Senft, CEO - 1-800-265-0550; bsenft@gfo.ca

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Grain Market Commentary for October 18, 2017

Wednesday, October 18, 2017

Commodity Period Price Weekly Movement
Corn CBOT December 3.48  01 cents
Soybeans CBOT November 9.84  08 cents
Wheat CBOT December 4.30  01 cents
Wheat Minn. December 6.10  02 cents
Wheat Kansas December 4.28  02 cents
Chicago Oats December 2.68  06 cents
Canadian $ December 0.8025  0.10 points

Harvest 2017 prices as of the close, October 18 are as follows: SWW @ $183.15/MT ($4.98/bu), HRW @ $192.30/MT ($5.23/bu), HRS @ $238.09/MT ($6.48/bu), SRW @ $187.72/MT ($5.11/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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