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Are you ready for what farming will look like in 2032?

GUELPH, ON (November 19, 2012) – Grain Farmers of Ontario wants our members’ opinion on four distinct future scenarios the agricultural industry could experience by the year 2032. By creating these four scenarios, Grain Farmers of Ontario hopes to better understand where farmers today see themselves in 20 years and determine how as an organization we can better position ourselves for success.

Peering two decades into the future requires radical thinking. Envision the year 2032 and agriculture in Ontario has experienced big changes. One possibility is for the first time in recent history the developed countries of the world, including Canada, are facing serious food shortages and many items we expect to be on our shelves are no longer there. How will farmers prepare for this potential new future?  Is it even plausible?

“These scenarios will assist Grain Farmers of Ontario with planning research investments, long-term crop management practices and predicting product quality expectations to maximize market returns for farmers,” says Barry Senft, CEO.  It will also provide a thought process for farmers to think about how they may need to start positioning their own farming operations for the future. 

Grain Farmers of Ontario, along with accounting and business advisory firm MNP, has created the scenarios that outline different possible futures along with what we estimate to be the most plausible outcomes. These scenarios for the future will fall under different categories or “drivers of change” identified by the board, staff and representatives from the industry – topics include: technology, the urban/rural relationship, immigration, global demand and the global economy, public expectations of sustainability and the environment, changing consumers wants and needs, public policy and regulations and innovation.

“Now it is our members’ turn,” says Senft.  “We have described the future under four different scenarios and are hoping each grain farmer in Ontario will take the time to tell us whether they are plausible and what each possible future will look like on their farms.”

Grain Farmers of Ontario appreciates farmer support and participation in filling out the survey. To access the survey visit, http://take-survey.com/mnp/GFOscenarioplanning.htm using the password “future” to complete the survey or phone the Grain Farmers of Ontario office at 1-800-265-0550 to request a copy be mailed to you.

Interim results will be discussed at the Grain Farmers of Ontario January district meetings where we also plan for further discussion and input.

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 October 18, 2017

Wednesday, October 18, 2017

Commodity Period Price Weekly Movement
Corn CBOT December 3.48  01 cents
Soybeans CBOT November 9.84  08 cents
Wheat CBOT December 4.30  01 cents
Wheat Minn. December 6.10  02 cents
Wheat Kansas December 4.28  02 cents
Chicago Oats December 2.68  06 cents
Canadian $ December 0.8025  0.10 points

Harvest 2017 prices as of the close, October 18 are as follows: SWW @ $183.15/MT ($4.98/bu), HRW @ $192.30/MT ($5.23/bu), HRS @ $238.09/MT ($6.48/bu), SRW @ $187.72/MT ($5.11/bu).

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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.

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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.

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