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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 May 17, 2017

Wednesday, May 17, 2017

May 17, 2017

Commodity Period Price Weekly Movement
Corn CBOT July 3.71  03 cents
Soybeans CBOT July 9.76  05 cents
Wheat CBOT July 4.27  05 cents
Wheat Minn. July 5.41  04 cents
Wheat Kansas July 4.26  13 cents
Chicago Oats July 2.35  09 cents
Canadian $ June 0.7340  0.15 points

Harvest 2017 crop cash prices as of close on May 17, 2017
SWW @ $198.52/MT ($5.40/bu), HRW @ $198.52/MT ($5.40/bu),
HRS @ $221.52/MT ($6.03/bu), SRW @ $198.52/MT ($5.40/bu).

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