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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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Commodity Period Price Weekly Movement
Corn CBOT March 3.65 ↑ 01 cents
Soybeans CBOT March 10.33 ↑ 14 cents
Wheat CBOT March 4.48 ↓ 06 cents
Wheat Minn. March 6.01 ↑ 01 cents
Wheat Kansas March 4.66 ↓ 09 cents
Chicago Oats March 2.59 ↓ 08 cents
Canadian $ March 0.7890 ↓ 1.03 points

Cash Grain prices as of the close, February 21, are as follows: SWW @ $205.96 ($5.61/bu), HRW @ $203.63/MT ($5.54/bu), HRS @ $231.13/MT ($6.29/bu), SRW @ $201.30/MT ($5.48/bu).

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