News

New partnership brings $5.7 million to research

THAMESVILLE, ON (September 13, 2010) – Grain Farmers of Ontario is excited about a new partnership that will provide $5.7 million for research in breeding and genetics in Eastern Canada.

The partnership is made possible through the Developing Innovative Agri-Products (DIAP) initiative from the Agriculture and Agri-Food Canada’s (AAFC) Growing Forward framework. The funding will be used to support 18 public breeding and genetics programs throughout Eastern Canada – from Manitoba to Prince Edward Island.

Covering six field crops – winter wheat, corn, soybeans, spring wheat, oats and barley - these projects will be managed by the newly formed Canadian Field Crops Research Alliance (CFCFRA). The alliance is a collaboration of seven organizations including Grain Farmers of Ontario (GFO), SeCan, Fédération des producteurs de cultures du Québec, Manitoba Corn Growers Association, Manitoba Pulse Growers Association, PepsiCo Canada and the Atlantic Grains Council.

“We’re very excited about the possibilities that this new funding presents for breeding,” says Crosby Devitt, Manager of Market Development and Research at GFO and chair of the new alliance. “The projects will focus on advancing production efficiencies and insect and disease resistance as well as targeting new markets in the food, industrial and feed markets, both domestically and internationally,” continues Devitt.

DIAP is part of the larger Growing Canadian Agri-Innovations Program, a federally funded, $158 million five-year program that promotes industry-led innovation initiatives.

Of the $5.7 million, AAFC is contributing $4 million and the partners of the alliance are contributing the remaining $1.7 million. GFO is directly contributing $628,000.

“GFO has been working hard on this initiative over the past year and a half,” says Henry Van Ankum, Vice Chair of GFO. “As developing new varieties is integral to maintain a strong grain industry, we are very excited to see it come to fruition.”

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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