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Trade negotiations with Japan positive for Ontario's soybean growers

GUELPH, ON (April 2, 2012) – Grain Farmers of Ontario is encouraged by the Economic Partnership Agreement negotiations launched this week between Canada and Japan.

Japan is a critical market for Ontario’s soybean growers as it is estimated that Canada holds a 38 percent share of Japan’s food grade market for soybeans.  All negotiations that strengthen our relationship with the Japanese will result in market opportunities for Ontario grain farmers’ highest value export – food grade soybeans.

“The Canadian Soybean Council (CSC) just returned from a trade mission that included stops in Japan to promote our high quality food grade soybeans,” says Henry Van Ankum, Chair of Grain Farmers of Ontario.  “Having a formal agreement between our countries will reinforce the positive working relationships we have cultivated over the last few years the CSC has been working with the Japanese.”

Soybean exports to Japan return over $200 million annually to the Canadian economy.  A free trade agreement has the potential to increase exports to Japan which is good news for Ontario’s growers of the high quality, traceable, safe and quality assured soybeans Japanese buyers demand.  This increase in demand for Ontario’s higher value crops will result in job creation and the growth of our economy.

“If the higher than expected turnout to our seminars across Japan on the recent mission is any indication of the interest in Canadian soybeans by Japanese buyers, we have a bright trading future ahead,” says Van Ankum.  “These free trade negotiations will strengthen our Canadian brand and go a long way to creating more interest in our grains and oilseeds.”

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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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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