News

Increased ethanol mandate good for grain farmers and the people of Ontario

Press release

GUELPH, ON (December 4, 2017) – Grain Farmers of Ontario applauds the Ontario Government for putting forward a proposal to increase the ethanol mandate in the province.

The government of Ontario released its proposed amendments to the Ethanol in Gasoline regulation last week on the Ontario Environmental Bill of Rights. The proposal includes an increase to the mandate for ethanol in regular grade gasoline from 5% to 10% by 2020.

“We are pleased to see the Ontario government committed to growing the ethanol market in Ontario,” said Mark Brock, Chair, Grain Farmers of Ontario. “Corn ethanol produced in Ontario increases market opportunities for local farmers. It is also an effective way to reduce greenhouse gas emissions from cars on the road and the ethanol industry generates jobs and economic activity for the province.”

Farmers are not the only ones who will benefit from growth within the biofuels industry. Income stability for Ontario’s grain farmers becomes money spent in our rural communities. An October 2017 study by Doyletech Corporation found that the economic impact of increasing the provincial ethanol mandate to 10% will contribute an additional $638 million per year to Ontario’s economy.

The government’s proposed amendments to the Ethanol in Gasoline regulation have been posted for review and comment and Grain Farmers of Ontario will be making a submission to support the increased use of ethanol.

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:

Barry Senft, CEO - 1-800-265-0550; bsenft@gfo.ca

Mark Brock, Chair - 519-274-3297; cropper01@hotmail.com

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Weekly Commentary

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Grain Market Commentary for December 6, 2017

Wednesday, December 06, 2017

Commodity Period Price Weekly Movement
Corn CBOT March 3.52  01 cents
Soybeans CBOT January 10.03  10 cents
Wheat CBOT March 4.25  10 cents
Wheat Minn. March 6.14  09 cents
Wheat Kansas March 4.23  06 cents
Chicago Oats March 2.48  15 cents
Canadian $ December 0.7835  0.50 points

Cash Grain prices as of the close, December 6, are as follows: SWW @ $178.23/MT ($4.85/bu), HRW @ $187.61/MT ($5.11/bu), HRS @ $238.74/MT ($6.50/bu), SRW @ $182.92/MT ($4.98/bu).

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Market Trends Report for November-December 2017

Monday, November 13, 2017

US and World

Harvest time is in full swing across United States and Ontario. There have been delays, but as usual, farmers in 2017 like they have many times before are finding ways to get the crop in the bin. Yield monitors flickering on social media have been a harbinger of big yields in the United States as one of the biggest crops in American history gets closer to the finish line. How big that crop has become has been a great subject of debate over the last several months.

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On November 9th USDA chimed in with their latest crop production report. In a surprise move, which shocked the market the USDA raised 2017/2018-corn production to 14.58 billion bushels. This was on a projected yield of 175.4 bushels per acre, which was up from its October estimate of 171.8 bushels per acre. This was outside any pre-report estimates on the high side and the market responded accordingly by falling seven cents on the day. If this yield comes to fruition, it will be the largest US domestic corn yield in history. US domestic corn stocks are projected to increase to 2.49 billion bushels, a very onerous figure headed into next year.

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