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Canadian Soybean Council receives funding from agri-marketing program

GUELPH, ON (December 23, 2013) – Grain Farmers of Ontario, on behalf of the Manitoba Pulse Growers Association (MPGA) and Fédération des producteurs de cultures commerciales du Québec (FPCCQ), under the Canadian Soybean Council (CSC) brand are continuing the development of new markets for Canadian soybeans, thanks to support from the Federal Government.  The Agri-Marketing Program, an initiative of Growing Forward 2, has granted $104,192 to the CSC for activities related to building and expanding international markets for Canadian soybeans.

The funding will be used towards developing outgoing programs specific to the European Union, Japan and Korea, as well as several publication materials to further enhance Canada’s brand as a supplier of high value, traceable, safe and quality assured soybeans.

In 2012 Canada exported over 3.3 million metric tonnes of soybeans to 50 different countries. Canadian soybean exports were also the 4th largest agri-food export from Canada valued at over 2 billion dollars.

“Grain Farmers of Ontario on behalf of MPGA and FPCCQ would like to thank the Federal Government for supporting the Canadian soybean industry through the Agri-Marketing program,” says Barry Senft, CEO of Grain Farmers of Ontario. “The program has allowed Canada to remain a strong competitor in soybean export markets. It is through important initiatives like this project, that Canada has been able to increase market access for our high-value Canadian soybeans. The regions of the European Union, Japan and Asia are key to the growth of our value-added soybean industry here in Canada.”

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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