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

Press release

GUELPH, ON (June 6, 2017) – 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 department.

To assess options, 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 expect to perform in the marketplace.

Grain Farmers of Ontario’s initial payments for the 2017 wheat marketing year are:

Wheat Class Initial Prices ($/tonne)
SWW (pool A) $135
HRW (Pool B) $135
HRS (Pool C) $150
SRW (Pool E) $130
CER (Pool F) $130
Feed (Pool G) $115

“Grain Farmers of Ontario’s Wheat Pool has historically returned market average prices or greater, making it a good insurance option when combined with other marketing strategies,” suggests Todd Austin, Manager of Wheat Marketing, Grain Farmers of Ontario. “By putting a percentage of wheat in the pool, farmers are able to move grain at harvest and take advantage of post-harvest markets.”

Grain Farmers of Ontario also offers pre-pool 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 by August 31. Post-pool contracts allow for delivery into the pool after September and into the spring.

For more information or for updates on the PRO for all wheat classes visit gfo.ca/Marketing/Initial-Payments-Varieties-Wheat, or call 1-800-265-0550.

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:

Todd Austin, Manager, Marketing – 519-767-2773; taustin@gfo.ca

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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