GrainTALK for March 2024
AN UPDATE ON GRAIN FARMERS OF ONTARIO NEWS AND EVENTS
2024 ELECTED DIRECTORS AND DELEGATES
Throughout January, elections were held in each district, and all farmer-members were invited to vote for their representatives. Each district voted in their delegates, and from the delegates, a director was elected in even-numbered districts.
Please visit www.gfo.ca/About/Districts/ for the most current listing. •
MARKET COMMENTARY
By Philip Shaw
On January 12, the United States Department of Agriculture weighed in with their “final” estimates.
U.S. corn production was set at a record 177.3 bushels per acre, which was well above the pre-report expectations.
Total U.S. corn production is now estimated to be 15.34 billion bushels. Soybeans were also increased to 50.6 bushels per acre, putting total production at 4.17 billion bushels. Higher corn production translates into higher ending stocks, now at 2.162 billion bushels, up 31 million bushels from the December report.
In Ontario, the Canadian dollar has dropped back to .7414 cents U.S. as of February 6, 2024. Cash prices are lower based on the big crop in the U.S. and down futures values. The Canadian dollar remains a stimulus for Ontario cash grain prices. •
2024 MARCH CLASSIC
Join us on March 19, 2024, at RBC Place in London, Ontario, for Grain Farmers of Ontario’s annual conference. Register online today at www.gfo.ca/marchclassic.
The future is built on the foundation we give it, and Ontario grain farming has deep, strong roots that feed this country’s people and support the success of the agriculture industry. Farmers constantly show their resiliency, their flexibility, and their innovation. In times of challenge, they persevere. They learn from the past, and they invest in the future. The farmers of tomorrow, the one per cent who will feed the world, will continue to build on these strong roots and show their strength and resilience every season. Grain Farmers of Ontario is a leader because of the strong roots it has in a strong board, strong team, and the spirit to push through in challenging times and put in the hard work for success. •
REQUEST THE GRAIN DISCOVERY ZONE TO ATTEND YOUR EVENT!
Since the spring of 2013, the GDZ has travelled to over 25 events a season, and this year is no different — requests for our 2024 Grain Discovery Zone Season are now open on our website until April 15, 2024! •
