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2011 Soybean Yield Challenge launched at Grain Farmers of Ontario March Classic

LONDON, ON (MARCH 21, 2011) – With over 400 farmers present, Don Kenny, chair of Grain Farmers of Ontario announced the start of the 2011 Soybean Yield Challenge. Farmers were invited to pick up their registration cards and try their hand at the prizes.

“It’s a great competition and farmers are definitely excited about it this year,” says Kenny. “It’s a really great opportunity to recognize Ontario’s elite growers and to give everyone a chance to learn from one another.”

This year’s challenge is slightly different from last year as it is split into two divisions – an IP division and a non-IP division.

“IP and non-IP soybeans require different management practices and we wanted to recognize those differences within the challenges,” says Crosby Devitt, manager of research and market development at Grain Farmers of Ontario. “The new divisions also allow us to hand out more prizes, which is always fun.”

The challenge is still separated into heat unit zones and winners will be chosen in each zone within each division. Two grand prizes will be awarded to the IP farmer and the non-IP farmer with the highest yield. Both farmers will win a trip for two to the National Farm Machinery Show in Louisville, Kentucky.

Winners in each zone in each division will win a cash prize of their yield multiplied by their bushels per acre. Runners up in each zone will win admission to Canada’s Outdoor Farm Show and their local farm show – London, Ottawa or Toronto.

The IP prizes are made possible by DuPont and the non-IP prizes are made possible by Monsanto.

Farmers can collect registration cards from Grain Farmers of Ontario or the industry sponsors of the competition: Monsanto, DuPont, Pioneer Hi-Bred, Hyland Seeds, Syngenta Seeds, Mycogen Seeds, Dekalb, Maizex Seeds, Country Farm Seeds and SeCan.

Challenge information, including rules and a downloadable registration card is also available at www.gfo.ca/soybeanyieldchallenge.

The deadline to register is July 29, 2011.

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 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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