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Ontario's greener diesel mandate cleans the air and creates a market for soy biodiesel

GUELPH, ON (April 3, 2014) – Grain Farmers of Ontario commends the Government of Ontario for introducing the new Greener Diesel mandate.

Ontario’s new Greener Diesel mandate will provide environmental benefits, support the creation of jobs, generate economic activity, and will establish a new market for soybeans grown in Ontario. 

“The creation of an Ontario Greener Diesel mandate will reduce greenhouse gas emissions generated by the transportation sector and will help build a market for made-in-Ontario soy biodiesel,” says Henry Van Ankum, Chair of Grain Farmers of Ontario. “Local fuel made from soybeans reduces greenhouse gas emission in vehicles up to 85 percent and the mandate will provide a potential market for 680,000 tonnes of soybeans.”

The Greener Diesel mandate requires a two percent inclusion of biodiesel in Ontario effective immediately, and a four percent inclusion by the beginning of 2017. When fully implemented, the reduction in greenhouse gas emissions will be the equivalent to removing 280,000 cars per year off the road.

The development and support of a local, domestic biofuels and bioproducts market is a priority for Grain Farmers of Ontario. The biofuels and bioproducts industry is an important market for grains and oilseeds farmers across the province. 

Creating new markets takes a commitment and collaboration between government and industry.  “We were pleased we could work with our partners at the Ontario government and the Canadian Renewable Fuels Association to initiate this Greener Diesel mandate and grow this market for our Ontario farmers,” added Van Ankum.  

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

Henry Van Ankum, Chair - 519-835-4200; henryvanankum@sympatico.ca

Meghan Burke, Communications – 519 767-2773; mburke@gfo.ca

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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).

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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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