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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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Weekly Commentary

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Grain Market Commentary for September 13, 2017

Wednesday, September 13, 2017

Commodity Period Price Weekly Movement
Corn CBOT December 3.51  10 cents
Soybeans CBOT November 9.60  11 cents
Wheat CBOT December 4.43  03 cents
Wheat Minn. December 6.43  01 cents
Wheat Kansas December 4.44  05 cents
Chicago Oats December 2.38  05 cents
Canadian $ December 0.8196  0.15 points

Harvest 2017 prices as of the close, September 13 are as follows:
SWW @ $182.92/MT ($4.98/bu), HRW @ $185.15/MT ($5.04/bu),
HRS @ $238.95/MT ($6.50/bu), SRW @ $182.91/MT ($4.98/bu).

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Market Trends Report for September-October 2017

Monday, September 18, 2017

US and World

Across the US corn belt American farmers are starting to harvest another huge crop. The growing season was uneven with widespread drought in the Northwest plains and quite a wet start in the Eastern corn belt. This was accentuated by somewhat dry conditions in mid-summer, but it looks like good genetics and modern farming methods have won out. As we careen into October, US farmers are set to harvest their third-largest corn crop and the largest soybean crop ever.

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On September 12th the USDA released their latest estimates of US crops. USDA estimated US corn production would come in at 14.184 billion bushels, with an average yield of 169.9 bushels per acre. This was seen as a bit of a shock to the market as traders were expecting lower yield estimates. The USDA also increased 2017/18 ending stocks to 2.335 billion bushels, up 62 million from their August report. This US crop is approximately 6% less than last year with the yield 4.7 bushels per acre lower.

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