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2017 Grains Innovation Fund Open for Proposals

GUELPH, ON (September 13, 2016) – Grain Farmers of Ontario has released its call for proposals for the 2017 Grains Innovation Fund.

The Grains Innovation Fund, an initiative of Market Development, supports development of new and reformulated products and processes that have the potential to expand the markets for Ontario barley, corn, oat, soybean, and wheat crops or crop residues.

“Eligible projects will have a direct impact on Ontario grain farmers through an increase in returns to farmers or an increase in the use of Ontario grains,” says Nicole Mackellar, Manager, Market Development. “Projects that demonstrate a return on investment for the grain industry as a whole – like increased infrastructure or a new bioproducts processing facility — are also eligible.”

Projects which satisfy the eligibility criteria established for this fund can receive up to 60% of the cost of the project, up to a maximum of $50,000.

“We look forward to seeing what new innovations and ideas are out there,” says Mackellar. “It’s always exciting to see increased investment in the Ontario grain industry and we hope to support these new growth opportunities for our crops.”

Interested companies must submit the application form found at www.gfo.ca/marketdevelopment. Applications will be accepted until 4 p.m. on Monday, October 24. Prior to submission, companies are encouraged to contact Grain Farmers of Ontario to discuss their project idea and receive feedback – contact Mangla Shandal at mshandal@gfo.ca or 519-767-6537 ext. 201.

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:

Nicole Mackellar, Manager, Market Development - 519-767-4124; nmackellar@gfo.ca

Mangla Shandal, Market Development Coordinator 519-767-6537 ext. 201; mshandal@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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