GFO Newsletter for February 2018
GET THE LATEST NEWS FROM GRAIN FARMERS OF ONTARIO
NEW COMMUNICATIONS MANAGER
Grain Farmers of Ontario is pleased to welcome Victoria Berry to the role of communications manager. Berry took on this role in early January. She will be leading the communications team and handling media inquiries. Berry can be reached at vberry@gfo.ca. •
ANNUAL DISTRICT MEETINGS
Thank you to all of our farmer-members who attended their Annual District Grain Committee Meetings in January. Election results for each district can be found at www.gfo.ca.
Current farmer-members who attended their meeting were entered into a draw for a chance to win one of three getaways, including a trip to the Commodity Classic. This drawing had not yet occurred at press time, please check online at www.gfo.ca for a full list of contest winners. Winners will also be published in the next edition of the Ontario Grain Farmer. •
GROW ONTARIO TOGETHER
Grain Farmers of Ontario is proud to be part of Grow Ontario Together – a collaboration of agriculture organizations that recognize the need to work together. Grow Ontario Together is currently focusing on phosphorus in Lake Erie. Watch the Grow Ontario Together introduction video on the Grain Farmers of Ontario YouTube channel to learn more. Additional videos on phosphorus will be released in the coming months. www.youtube.com/grainfarmersontario. •
MARKET COMMENTARY
by Philip Shaw
In the December 2017 United States Department of Agriculture (USDA) report, U.S. corn ending stocks were pegged at 2.437 billion bushels, which was below trade estimates. Demand for corn for ethanol increased 50 million bushels from the November estimate. On the soybean side of the ledger, USDA increased soybean-ending stocks to 445 million bushels, but reduced exports by 25 million bushels from their November report.
In Ontario, the big corn crop has put pressure on basis, but much has been moved into the export market to Europe, as tariffs have been eliminated for Canadian corn under the Canada-European Union Comprehensive Economic and Trade Agreement (CETA). The Canadian dollar found new life when Statistics Canada announced the lowest unemployment rate since 1976. In early January it was trading at 80.7 cents U.S. pressuring Ontario cash grain prices. •
