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Grain Farmers of Ontario conference theme announces - "Agriculture - Ontario's Economic Superpower"

GUELPH, ON (February 15, 2011) Grain farmers in Ontario will have lots to celebrate at this year’s GFO March Classic on March 21st. Grain prices, sector growth and optimism are making agriculture a key industry for the province.  Our success has inspired the theme for this year’s conference: ‘Agriculture – Ontario’s Economic Superpower’.

The latest figures from Statistics Canada show that while the total revenue of the manufacturing industry has fallen by 10 percent in Ontario over five years, the agriculture and agri-food sub-section has enjoyed 11 percent growth over the same period.  The January Agriculture Business Barometer from the Canadian Federation of Independent Business (CFIB) indicates optimism levels in the agriculture sector are at a four year high. 

“The information shared from this year’s speakers at the March Classic will build on this success,” says GFO CEO, Barry Senft. “Our vision is to drive our industry to become a global leader and the 21st of March will be the catalyst.”

Global business leaders will present in the afternoon of the GFO March Classic to discuss opportunities and challenges for farmers in a global context.  GFO’s farmer members will learn business strategies and market insight from agribusiness leaders intended to inspire business planning beyond the farm gate.

“Ontario’s farmers are in an ideal economic and social climate right now with higher grain prices, the buy local movement creating niche opportunities and world markets opening through new trade agreements,” says Senft.  “We hope the conference is the launch for major industry growth over the next few years.”

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.

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Grain Market Commentary for August 16, 2017

Wednesday, August 16, 2017

Commodity Period Price Weekly Movement
Corn CBOT September 3.52  20 cents
Soybeans CBOT November 9.25  53 cents
Wheat CBOT September 4.20  44 cents
Wheat Minn. September 6.73  60 cents
Wheat Kansas September 4.20  24 cents
Chicago Oats September 2.60  10 cents
Canadian $ September 0.7898  0.15 points

Harvest 2017 prices as of the close, August 16 are as follows:
SWW @ $182.43/MT ($4.96/bu), HRW @ $189.46/MT ($5.16/bu),
HRS @ $254.49/MT ($6.93/bu), SRW @ $187.11/MT ($5.09/bu).

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Market Trends Report for August-September 2017

Monday, August 14, 2017

US and World

It has been an uneven growing season in much of the American corn belt. The Western corn belt has been dry especially in the Dakotas, while the mid south and Eastern corn belt were inundated with heavy rains earlier in the spring. The forecast in late July turned cooler and wetter for all of the American corn belt. This new forecast essentially changed much of the outlook for the American crop, but still many analysts were expecting lower August USDA numbers reflecting some of the earlier tough conditions for US corn and soybeans. Anticipation of the August 10th USDA report was filled with expectations of lower yield projections.

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On August 10th, the USDA lowered their projected corn yield estimate to 169.5 bushels per acre down from their earlier projection of 170.7 bushels per acre and less than last year's 174.6 bushels per acre. At the same time the USDA raised soybean yield expectations to 49.4 bushels per acre up from their 48 bushels per acre earlier estimate. This pegged 2017/18-soybean production at 4.4 billion bushels. Both of these USDA estimates rocked the grain market August 10th, as it was a big surprise. With so much uneven weather affecting this crop in the field a US corn yield of 165-166 bushels per acre was a general trade estimate. Futures prices plummeted on this very bearish report.

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