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Grain farmers look to federal leaders for a commitment on business risk management

GUELPH, ON (September 21, 2015) – As the federal election candidates turn their attention to agriculture policy, Grain Farmers of Ontario looks forward to commitments on business risk management programs for farmers.

Ontario grain and oilseed farmers require access to risk management programs that are timely, predictable, bankable, and straightforward, including a permanent suite of fully-funded federal Business Risk Management (BRM) programs.

“Grain farming is a high risk business and farmers face many challenges every year like volatile prices and weather patterns,” says Mark Brock, Chair of Grain Farmers of Ontario. “We also have to compete in a global marketplace that is influenced by government supports in other countries, requiring us to be innovative in order to remain competitive.”

BRM is a key to innovation and competition in a global environment, allowing grain farmers to adopt innovative practices in order to remain competitive while providing stability so that farmers have the confidence to invest in their operations.

“Right now, we have AgriStability as one of the federal-provincial Growing Forward 2 suite of BRM programs – but it’s not working for Ontario’s grain farmers,” says Brock.

Grain Farmers of Ontario is seeking a commitment from the federal leaders to review the AgriStability program for grain and oilseed producers with a view to replacing it with a more predictable and transparent program that works to provide income stabilization for grain and oilseed farmers. 

Grain Farmers of Ontario

Grain Farmers of Ontario is the province’s largest commodity organization, representing Ontario’s 28,000 barley, corn, oat, 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:

Mark Brock, Chair - 519-274-3297; cropper01@hotmail.com

Deb Conlon, Manager, Government Relations - 416-805-4490; dconlon@gfo.ca

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Grain Market Commentary for February 21, 2018

Wednesday, February 21, 2018

Grain Farmers of Ontario farmer-members are invited to attend two full-day marketing seminars on grain marketing: Intro to Futures & Options, as well as the more advanced Options & Technical Analysis.

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Commodity Period Price Weekly Movement
Corn CBOT March 3.65 ↑ 01 cents
Soybeans CBOT March 10.33 ↑ 14 cents
Wheat CBOT March 4.48 ↓ 06 cents
Wheat Minn. March 6.01 ↑ 01 cents
Wheat Kansas March 4.66 ↓ 09 cents
Chicago Oats March 2.59 ↓ 08 cents
Canadian $ March 0.7890 ↓ 1.03 points

Cash Grain prices as of the close, February 21, are as follows: SWW @ $205.96 ($5.61/bu), HRW @ $203.63/MT ($5.54/bu), HRS @ $231.13/MT ($6.29/bu), SRW @ $201.30/MT ($5.48/bu).

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Market Trends Report for February-March 2018

Monday, February 12, 2018

The winter season in North America is often one of hopes and dreams. With the January 2018 USDA report a month old the scope of the 2017 crop is now becoming a memory. Farmers have turned the page and will soon be planting corn in places like Texas. However, in the southern hemisphere corn and soybean crops are growing in the field and affecting prices every day. While the northern hemisphere freezes under the snow, weather in Argentina and Brazil has been defining the initial grain fundamentals for 2018.

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On February 8th, the USDA released its latest World Supply and Demand Estimates. (WASDE) The USDA lowered US corn ending stocks to 2.352 billion bushels down 125 million bushels from last month. This was totally related to an increase in US corn exports by the same amount. This was attributed to a weakened US dollar and reduction in both Argentinian and Ukrainian corn exports. Hot weather in Argentina had USDA lowering their corn production 2.8 MMT to 39 MMT. USDA maintained Brazil corn production of 95 MMT.

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