GFO Newsletter for February 2017
GET THE LATEST NEWS FROM GRAIN FARMERS OF ONTARIO
MEETINGS WITH CROP COMMITTEES
In January, the Ontario Cereal Crop Committee (OCCC) and the Ontario Soybean and Canola Committees (OSACC) held their main annual meetings. Members of the Research Department represent Grain Farmers of Ontario at these meetings to ensure that work done by both OCCC and OSACC is aligned with producer priorities and brings value back to Ontario grain farmers. Both committees engage members of the value chain in decisions.
The Ontario Cereal Crop Committee (OCCC) acts as the recommending body for cereal variety registration in Ontario, and helps set quality parameters for the various wheat classes to help ensure that new varieties have quality profiles that match what end use markets want and do not harm access to markets. The OCCC also conducts performance trials of cereal varieties for Ontario farmers.
The Ontario Soybean and Canola Committee (OSACC) promotes research, development and extension knowledge sharing throughout the soybean and canola sector in Ontario, including conducting the soybean variety performance trials for Ontario. The OSACC met on January 19, 2017 in London, ON to provide updates on recent research activity. Mike Buttenham and Matthew Czerwinski represented Grain Farmers of Ontario with presentations about sustainability, soybean and the Canadian Field Crop Research Alliance (CFCRA).
For more information on OCCC and OSACC and to access 2016 Variety Performance trials, please visit www.gocereals.ca and www.gosoy.ca. •
MARKET COMMENTARY
by Philip Shaw
The December United States Department of Agriculture (USDA) report did not change any U.S. domestic grain production or ending stocks levels. However, global production and ending stocks were raised for corn, soybeans, and wheat. At year end, cash corn prices in the U.S. were down for corn and wheat from last year, 5.3% and 21.5% respectively. Soybeans bucked this trend in 2016 with U.S. cash soybean prices up approximately 14.9%. 2016 was a year of record crops in the United States. Record demand helped mitigate considerable price erosion.
In Ontario, basis levels have softened for corn and fluctuated greatly for soybeans and wheat based on where the Canadian dollar has been moving. The U.S. dollar has been higher which often weakens the Canadian dollar. If it continues, cash prices will see further support in Ontario. •
