A GREAT OPTION FOR YOUR WHEAT
over the next few months, the Wheat Marketing Team at Grain Farmers of Ontario has plans to make the Wheat Pool a more visible marketing option to farmers.
At a meeting of the Wheat Marketing committee in March 2012, a study completed by marketer Victor Aideyan was reviewed that painted a very complementary picture of the role the wheat marketing options offered by Grain Farmers of Ontario play in the Ontario marketplace. A recommitment was made to wheat marketing at that meeting, and subsequently by the board, that prompted some positive changes to the marketing options from the organization.
In the 2012 marketing year, Grain Farmers of Ontario Wheat Marketing offered a higher initial payment to farmers willing to pre-commit wheat to the pool. And now for 2013, this option will be joined by the Pool Return Outlook (PRO), a price indication of the pool final payment based on current nearby and forward markets. The PRO will be updated periodically and is not a guarantee of price but a projection of financial returns based on current prices and economic conditions.
Through the process of reviewing the Wheat Pool results over the last five years, Grain Farmers of Ontario has determined that the Wheat Pool has achieved an average of 4% higher returns for pool participants when compared to the average market price for that year.
This year, in order to better communicate the value of the marketing options at Grain Farmers of Ontario, a plan is in place to promote the Wheat Pool. Advertisements have been placed in farm publications to remind farmers about the marketing options available through Grain Farmers of Ontario. Additionally, Wheat Pool agents will be equipped with brochures and other information that will assist any interested producer in calculating the benefits of participating in the
There is also a calculator online at www.gfo.ca/wheatmarketing for farmers to enter wheat acreage data so that every marketing option, including pooling, can be reviewed to determine the best course of action for marketing their crop.
To learn more about the Wheat Pool at Grain Farmers of Ontario, please phone our Wheat Marketing Team at 800-265-0550 or visit us online at www.gfo.ca/wheatmarketing. •