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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.

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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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