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RMP in the budget but caps a concern for grain farmers

GUELPH, ON (March 28, 2012) – Grain Farmers of Ontario is pleased with the inclusion of the Risk Management Program in the budget, indicating the government’s ongoing commitment to the program, but more work will need to be done to ensure a program cap does not affect bankability, predictability and sustainability over the long term.

For the 2012 program year, our organization has been assured that the existing guidelines will remain in place and RMP will not be capped.  The details of the 2013 program year will be part of an ongoing discussion between government and Grain Farmers of Ontario to ensure the program continues to meet the insurance needs of grain farmers.

“The top priority of Grain Farmers of Ontario is to make sure the goals of the program and the needs of our farmer members are kept at the forefront of the discussions as we move forward,” says Henry Van Ankum, Chair.  “We are encouraged that the government is willing to work with us to build the framework of the 2013 program.”

Grain Farmers of Ontario understands the importance of managing spending in challenging fiscal times but our organization is concerned with the message this cap sends to one of the largest sectors in Ontario that is making a positive contribution to the growth of the provincial GDP. 

“Our hard working farmers are making such a significant contribution to the growth of the Ontario economy to overcome our province’s fiscal challenges,” says Van Ankum.  “Our objective in any future RMP discussions is to ensure we continue to have an insurance program in place to fall back on when our farmer members face challenging times.”

Grain Farmers of Ontario looks forward to more detail on the 2013 Risk Management Program and future discussions with Minister McMeekin on program guidelines.

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.

Contact:

Barry Senft, CEO - 1-800-265-0550; bsenft@gfo.ca

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Episode 70: Member Relations

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Grain Market Commentary for February 7, 2018

Thursday, February 08, 2018

Grain Farmers of Ontario farmer-members are invited to attend two full-day marketing seminars on grain marketing: Intro to Futures & Options, as well as the more advanced Options & Technical Analysis.

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Commodity Period Price Weekly Movement
Corn CBOT March 3.61 ↑ 05 cents
Soybeans CBOT March 9.96 ↑ 04 cents
Wheat CBOT March 4.51 ↑ 18 cents
Wheat Minn. March 6.07 ↑ 01 cents
Wheat Kansas March 4.67 ↑ 35 cents
Chicago Oats March 2.65 ↓ 10 cents
Canadian $ March 0.8130 ↑ 0.23 points

Notice: The commentary for all commodities was written at 10 a.m. on February 8 before the release of the February United States Department of Agriculture (USDA) report.

Cash Grain prices as of the close, February 7, are as follows: SWW @ $210.13 ($5.72/bu), HRW @ $207.82/MT ($5.66/bu), HRS @ $233.89/MT ($6.37/bu), SRW @ $205.52/MT ($5.59/bu).

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Market Trends Report for February-March 2018

Monday, February 12, 2018

The winter season in North America is often one of hopes and dreams. With the January 2018 USDA report a month old the scope of the 2017 crop is now becoming a memory. Farmers have turned the page and will soon be planting corn in places like Texas. However, in the southern hemisphere corn and soybean crops are growing in the field and affecting prices every day. While the northern hemisphere freezes under the snow, weather in Argentina and Brazil has been defining the initial grain fundamentals for 2018.

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On February 8th, the USDA released its latest World Supply and Demand Estimates. (WASDE) The USDA lowered US corn ending stocks to 2.352 billion bushels down 125 million bushels from last month. This was totally related to an increase in US corn exports by the same amount. This was attributed to a weakened US dollar and reduction in both Argentinian and Ukrainian corn exports. Hot weather in Argentina had USDA lowering their corn production 2.8 MMT to 39 MMT. USDA maintained Brazil corn production of 95 MMT.

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