News

Grain Farmers of Ontario deferred payment regulations

GUELPH, ON (November 21, 2011) – As the 2011 crop year comes to a conclusion and many grain farmers are considering whether to defer crop payments, Grain Farmers of Ontario has produced an information sheet on the changes to the Grains Act made in December 2010.

In summary, there are several things to keep in mind when entering into deferred payment agreements:

  • The deferred payment must be voluntary, and agreed to by both the grain dealer/elevator operator and the farmer/owner.
  • The deferred payment must be in writing and clearly set out when the dealer/elevator must pay the farmer/owner.
  • All deferred payments must be paid in full on or before July 1, 2012.

“The current amendments to the Grains Act are in place until July 1, 2012,” says Don Kenny, Chair of Grain Farmers of Ontario. “Our organization is working alongside the Ontario Agri-Business Association and with government and Agricorp to ensure a permanent decision on deferred payments is in place on or before July 1, 2012.”

To see complete details on the Deferred Payment Regulations or to view the Grains Act please visit www.gfo.ca/governmentrelations and follow the links provided.  Grain Farmers of Ontario will continue to update members on our website as information becomes available.

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.

Stay in touch

Annual Report

The 2017 Grain Farmers of Ontario Annual Report is now available.

Read it now or download a .pdf.


Subscribe to the Bottom Line

Subscribe to The Bottom Line, the weekly newsletter that helps our members stay on top of all the news that affects their bottom line.

Read the latest issue (September 15, 2017)

Subscribe


Inside Grain Farmers of Ontario

New episodes every week.

Episode 57: Communications: The CNE


Follow us

twitter   linkedin   youtube

Weekly Commentary

Get Aggregated RSS

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).

Read more

Market Trends

Get Aggregated RSS

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.

Listen to the podcast

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.

Read more

sustainability
mobile apps