News

Trans Pacific Partnership great news for Ontario grain farmers

GUELPH, ON (June 21, 2012) – The recent announcement that Canada has officially received an invitation to join the Trans Pacific Partnership trade negotiations is great news for Ontario’s grain farmers.

Official talks about the details and terms of this trade agreement won’t take place until the fall. Until that time, the federal government and commodity groups will consider all options and outcomes surrounding this partnership that will encourage business opportunities for Canadian farmers.

“The announcement that Canada is moving forward with Trans Pacific trade talks is very positive,” says Grain Farmers of Ontario chair Henry Van Ankum.  “Our organization encourages the Canadian government’s continued efforts to develop new markets and reduce trade barriers for Ontario’s grain farmers.”

Grain Farmers of Ontario supports the Canadian governments’ participation in the Trans Pacific Partnerships trade negotiations because of the large volume of soybean exports to this region. In 2010, exports to counties already in the Trans Pacific Partnership made up 43 percent of the total exports of Canadian soybeans.

If Japan is also given a seat at the negotiations it will provide the best opportunity for market growth for Ontario’s grain farmers.  Japan is an integral part of expanding our international markets, as it is estimated that Canada holds a 38% share of Japans food grade market for soybeans. 

“If both countries enter the Trans Pacific Partnership, Canada’s relationship with Japan for exports will potentially strengthen and in turn benefit Ontario farmers,” comments Van Ankum. 

Grain Farmers of Ontario encourages the Canadian government to continue the positive work to develop new markets and reduce trade barriers for Ontario’s grain farmers.  

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

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 (October 13, 2017)

Subscribe


Inside Grain Farmers of Ontario

New episodes every week.

Episode 61: Market Development, Grains Innovation Fund


Follow us

twitter   linkedin   youtube

Weekly Commentary

Get Aggregated RSS

Grain Market Commentary for October 12, 2017

Thursday, October 12, 2017

Commodity Period Price Weekly Movement
Corn CBOT December 3.49  06 cents
Soybeans CBOT November 9.92  34 cents
Wheat CBOT December 4.30  12 cents
Wheat Minn. December 6.12  02 cents
Wheat Kansas December 4.26  10 cents
Chicago Oats December 2.62  16 cents
Canadian $ December 0.8030  0.15 points

Harvest 2017 prices as of the close, October 12 are as follows: SWW @ $183.52/MT ($4.99/bu), HRW @ $192.67/MT ($5.24/bu), HRS @ $238.89/MT ($6.50/bu), SRW @ $188.09/MT ($5.12/bu).

Read more

Market Trends

Get Aggregated RSS

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.

Listen to the podcast

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.

Read more

sustainability
mobile apps