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GRAIN FARMERS OF ONTARIO ANNOUNCES INITIAL PRICES AND POOL RETURN OUTLOOK FOR WHEAT POOL

GUELPH, ON (June 9, 2016) – Grain Farmers of Ontario is pleased to announce the initial payments and pool return outlook (PRO) for the six wheat pools managed by the Wheat Marketing team.

To assess options this year, producers should consider initial prices as an advanced payment on the PRO, estimated at 65 per cent of total value. The PRO is an estimation based on current market conditions of how various classes of wheat should be expected to perform in the marketplace. Grain Farmers of Ontario’s initial payments for the 2016 wheat marketing year are:

Wheat Class                       Initial Prices ($/tonne)

SWW (Pool A)                    $130

HWR (Pool B)                     $140

HRS (Pool C)                       $140

SRW (Pool E)                      $130

RW (Pool F)                        $130

FEED (Pool G)                    $110

“The Pool allows growers to move grain at harvest while taking advantage of post-harvest markets, which spreads out cash flow,” says Todd Austin, Manager of Wheat Marketing, Grain Farmers of Ontario. “Historically it hits market average or better, so it can be a good insurance policy.”

Grain Farmers of Ontario issues and regularly updates the PRO for all wheat classes at www.gfo.ca/WheatMarketing.

Grain Farmers of Ontario also has pre-pool contracts and post-pool contracts. Pre-pool contracts offer an advance above the initial price to bring the value closer to 70 per cent to the current cash price. Pre-pool contracts have to be established with Grain Farmers of Ontario no later than August 31. Post-pool contracts allow for delivery into the pool after September and into the spring. For more information, call 1-800-265-0550 or visit www.gfo.ca/wheatmarketing.

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 over 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

Todd Austin, Manager, Marketing – 519-767-4118; taustin@gfo.ca 

Maegan MacKimmie, Communications – 519-767-4137; mmackimmie@gfo.ca 

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Grain Market Commentary for September 13, 2017

Wednesday, September 13, 2017

Commodity Period Price Weekly Movement
Corn CBOT December 3.51  10 cents
Soybeans CBOT November 9.60  11 cents
Wheat CBOT December 4.43  03 cents
Wheat Minn. December 6.43  01 cents
Wheat Kansas December 4.44  05 cents
Chicago Oats December 2.38  05 cents
Canadian $ December 0.8196  0.15 points

Harvest 2017 prices as of the close, September 13 are as follows:
SWW @ $182.92/MT ($4.98/bu), HRW @ $185.15/MT ($5.04/bu),
HRS @ $238.95/MT ($6.50/bu), SRW @ $182.91/MT ($4.98/bu).

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Market Trends Report for September-October 2017

Monday, September 18, 2017

US and World

Across the US corn belt American farmers are starting to harvest another huge crop. The growing season was uneven with widespread drought in the Northwest plains and quite a wet start in the Eastern corn belt. This was accentuated by somewhat dry conditions in mid-summer, but it looks like good genetics and modern farming methods have won out. As we careen into October, US farmers are set to harvest their third-largest corn crop and the largest soybean crop ever.

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On September 12th the USDA released their latest estimates of US crops. USDA estimated US corn production would come in at 14.184 billion bushels, with an average yield of 169.9 bushels per acre. This was seen as a bit of a shock to the market as traders were expecting lower yield estimates. The USDA also increased 2017/18 ending stocks to 2.335 billion bushels, up 62 million from their August report. This US crop is approximately 6% less than last year with the yield 4.7 bushels per acre lower.

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