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New report confirms value of neonicotinoids to corn and soybeans

GUELPH, ON (January 7, 2016) – A new report, released yesterday by Canada’s Pest Management Regulatory Agency (PMRA), confirms the value of neonicotinoid seed treatments used on corn and soybeans in Ontario.

The report expresses that the potential economic benefits at the farm level can be “critical to crop production in cases where pest pressures would require the producer to replant the entire crop, or when several pests are present in a given field, or when the pest affects end product marketability”.

“The PMRA report is aligned with what our organization has been expressing over the past few years and with what our farmer-members experience in the fields,” says Mark Brock, Chair of Grain Farmers of Ontario. “Pest management is a huge part of grain farming and is essential to ensure a quality end crop, and neonicotinoid seed treatments have been a highly effective tool for Ontario farmers to date.”

In the same PMRA report, it is stated: “identifying pest pressure poses considerable challenges for growers” and “the value of these seed treatments could be substantial for affected growers”.

Grain Farmers of Ontario agrees with these key statements and continues to struggle with the Ontario government’s seed treatment regulations, which include impractical methods and timelines for pest identification. It is evident, and now confirmed by the PMRA, that there is significant and sometimes critical need for neonicotinoid seed treatments on corn and soybeans in Ontario.

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

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