GrainTALK for October 2021

2021 FINANCIAL STATEMENTS

Grain Farmers of Ontario held its Annual General Meeting on September 14. During the meeting, the financial statements for the 2020-2021 fiscal year (June – May) were presented by the auditors, RLB LLP. The financial statements are included immediately following this newsletter for the easy reference of all farmer-members. The financial statements can also be found in the 2021 Annual Report, available online at www.gfo.ca/about. •

SOYBEAN DRYING CHARGES

Soybean producers are reminded about the need to confirm drying charges which are now calculated under the Agreement for Marketing the Ontario Soybean Crop made under the Farm Products Marketing Act(O. Reg 485/09). Go to www.gfo.ca/marketing for a drying charges calculator.

Soybean drying charges are no longer tied to the price of soybeans. Cleaning and handling charges, as well as soybean drying charges/ moisture discounts, are agreed upon by the dealer and the producer through competitive market forces, similar to the corn and wheat markets.

Producers should confirm all terms and conditions with their buyer before making their deliveries. •

MAGAZINE SUBSCRIPTION CHANGES

Farmer-members and industry associates who have changes to their mailing address cancel their subscription to the Ontario Grain Farmer magazine can contact Phaedra McIntosh, Grain Farmers of Ontario database coordinator, at pmcintosh@gfo.ca or 519-767-4130. •

ANNUAL DISTRICT MEETINGS

Grain Farmers of Ontario is beginning to plan for the 2022 January District Grain Committee Meetings and what format they will take. At this time we are hoping to hold in-person meetings; however, if restrictions on gatherings and other public health measures remain in place due to COVID-19, we will re-evaluate to ensure the health and safety of all of our farmer-members and staff.

Please check www.gfo.ca for updates on the date and time of your District meeting. Details will also be published in the weekly GrainTALK e-newsletter and in upcoming issues of the Ontario Grain Farmer as they become finalized.

The Annual District Meetings are called to elect voting delegates for the coming year. This year delegates in even-numbered districts will elect a director to serve a two-year term. Updates on our organization and grain industry issues are also provided. All barley, corn, oat, soybean, and wheat farmers are welcome and encouraged to attend. •

2022 GRAINS INNOVATION FUND

Grain Farmers of Ontario is now accepting applications for the 2022 Grains Innovation Fund. Under this Market Development initiative, funding is available to support development of new and reformulated products and processes which have the potential to expand the market for Ontario barley, corn, oat, soybean, and wheat crops or crop residues. Projects that satisfy the eligibility criteria for the Grains Innovation Fund can receive up to 60 per cent of the cost of the project, up to a maximum of $50,000.

The Grains Innovation Fund was officially launched in 2010 and has supported 58 projects to date with more than $1.5 million in funding. The program is designed to help support companies who are interested in using local ingredients in their products and supporting local farmers. From product development to marketing campaigns to website design, the program is designed to help companies share the story of their use and support of local grain.

Eligible projects must either open new markets for Ontario grains, expand the use and demand for Ontario grains, promote Ontario grains as the best choice, identity preserve varieties for novel uses, and/or increase the value (premiums) for Ontario grains.

Applications for the Grains Innovation Fund must be submitted by November 5, 2021. Information about the fund and the application process is available at www.gfo.ca/market-development or by contacting Dana Dickerson, Grain Farmers of Ontario’s manager, Market Development, at ddickerson@gfo.ca or 1-519-767-4124. •

FARMER-MEMBER SURVEY

Grain Farmers of Ontario is conducting a farmer-member survey. Your confidential feedback will help our planning and make our organization more responsive to your needs. All farmer-members were mailed a copy of the survey with their September issue of the Ontario Grain Farmer and provided with a postage paid return envelope. Please complete the survey as soon as possible and return. You can also complete the survey online at www.gfo.ca/survey. All farmer-members who complete the survey will be entered to win a Yeti cooler prize pack. Farmer-members who complete their survey online will be entered to win one of two $100 gift cards per month (September – January). •

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Go online to www.gfo.ca and click on the button. •

MARKET COMMENTARY

by Philip Shaw
On August 12, United States Department of Agriculture (USDA) pegged U.S. domestic corn production at 174.6 bushels per acre, down from 4.9 bushels per acres from their July report. This put total corn production at 14.75 billion bushels, down 415 million bushels from July. USDA pegged soybean yield at 50 bushels per acres setting new crop production at 4.339 billion bushels. It is a big U.S. crop, and the September report will further hone these numbers.

On August 31, the Canadian dollar closed at .79320 U.S. after falling into the 77 cent range earlier in August. This combined with a decline from the 83 cent U.S. level in June has helped Ontario cash grain values. As we head into mid to late September it looks like a big corn crop in Ontario with Statistics Canada pegging yield record 169.4 bushels per acre. •