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Grain Farmers of Ontario wheat pool return outlook

GUELPH, ON (June 20, 2013) – The Ontario Wheat Pool is announcing the Pool Return Outlook (PRO) projections based on the current marketing environment. Following are the projected pool returns after anticipated expenses and deductions.

Pool Class $/bus $/mt
Pool A (SWW) $5.99 $220.00
Pool B (HRW) $6.22 $229.00
Pool C (HRS) $7.13 $262.00
Pool E (SRW) $5.96 $219.00

Pooling is a risk management tool available to Ontario wheat farmers. “By committing a portion of wheat to the pool program, Ontario farmers can take advantage of market conditions incrementally throughout the market year,” says Todd Austin, Manager of Wheat Marketing at Grain Farmers of Ontario. “This approach allows farmers to capitalize on market movements after harvest.” 

“With recent volatility of futures markets, the initial price offered for wheat does not always reflect the final prices generated through the pool program,” continues Austin. “At times this makes it difficult for a farmer to compare the pool program with cash pricing.”

To assist farmers in predicting cash flow, Grain farmers of Ontario will issue and periodically update the PRO for all classes of wheat. The PRO is a price indication based on current nearby and forward markets. It is not a guarantee of price but rather an indication or projection of potential returns based on current price and economic conditions. The PRO will be updated as market conditions dictate. It’s important that farmers are aware that volatility in the marketplace may affect the PRO in a significant manner.

For more information on the PRO or to commit a portion of your wheat to the pool contact the Wheat Marketing Team or Todd Austin at taustin@gfo.ca or 1 – 800 – 265-0550 x 220. Information can also be found online at http://gfo.ca/WheatMarketing.aspx.

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 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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On August 10th, the USDA lowered their projected corn yield estimate to 169.5 bushels per acre down from their earlier projection of 170.7 bushels per acre and less than last year's 174.6 bushels per acre. At the same time the USDA raised soybean yield expectations to 49.4 bushels per acre up from their 48 bushels per acre earlier estimate. This pegged 2017/18-soybean production at 4.4 billion bushels. Both of these USDA estimates rocked the grain market August 10th, as it was a big surprise. With so much uneven weather affecting this crop in the field a US corn yield of 165-166 bushels per acre was a general trade estimate. Futures prices plummeted on this very bearish report.

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