Ontario Grain Farmer April/May 2021

USE LICENSED GRAIN DEALERS Grain Farmers of Ontario reminds all farmer-members of the importance of using a licensed grain dealer. Farmers who sell grains and oilseeds to licensed dealers or store crops at elevator operators may be financially protected under the Grain Financial Protection Program (GFPP) if a licensed dealer does not meet their payment or storage obligations within the agreed timeline. Farmers who have not been paid for delivered grain within the timelines established under the Grains Act should contact Agricorp right away at 1-888-247-4999. If a dealer’s grain license is suspended or surrendered, they cannot purchase or accept grain from Ontario farmers. Any contracts for the purchase of grain with a dealer who does not hold a grain license are not subject to the Grains Act and regulations. Farmers who find themselves in this situation may choose to seek independent advice on dealing with unfulfilled contracts. Agricorp delivers the Grain Financial Protection Program on behalf of the Ontario Ministry of Agriculture, Food and Rural Affairs and appoints a chief inspector to issue grain dealer licenses and performs dealer and elevator inspections. Visit agricorp.com for an up-to- date list of licensed grain dealers and elevator operators and to read more about the GFPP. MARKET COMMENTARY by Philip Shaw On February 9, the United States Department of Agriculture (USDA) reduced corn 2020/2021 ending stocks to 1.502 billion bushels, down 50 million bushels from their January report. 2021 corn yield (172 bpa) and production (14.182 bbu) were maintained. Total corn usage was increased by 50 million bushels to 14.625 reducing the stocks to use ratio down to 10.2%. USDA lowered old crop soybean ending stocks by 20 million bushels down to 120 million bushels. USDA left the supply side of the ledger the same from the January report, but increased exports by 20 million bushels to 2.250 bbu. On February 25, the Canadian dollar briefly flirted above 80 cents U.S. as the U.S. greenback weakened. It was brief, as the U.S. dollar recovered. Needless to say, the corn and soybean futures market structure is bullish and looks to continue that way into spring. maximumguaranteed loan limit is also being permanently increased from $120 million to $200 million to allow extended loan repayment deadlines and accommodate an increase in lending capacity. These changes are being made following consultations with the Agricultural Credit Corporation (ACC) leadership, program clients, and the ACC's lender, as part of a mandated five-year review that was conducted in 2020. Changes to the Commodity Loan Guarantee Program are now in effect, and clients of the Agricultural Credit Corporation will be notified that their loans are extended. RESPONSIBLE GRAIN CODE OF PRACTICE The Canadian Roundtable for Sustainable Crops (CRSC) is leading the development of a voluntary grain industry Code of Practice called Responsible Grain. The purpose of Responsible Grain is to address consumers' and customers' priorities, and to provide practical solutions that support farms in continual improvement. The CRSC sought input directly from farmers across Canada through public consultation November 2020 — February 2021. Grain Farmers of Ontario is a long- standing member of the CRSC. We were not involved in the creation of Responsible Grain, but actively participated in the public consultation. The CRSC will review all feedback from the Canada- wide public consultation and release a second draft of the Responsible Grain Code of Practice in Fall 2021. A second consultation in Fall 2021 will follow and Grain Farmers of Ontario will continue to provide feedback on behalf of our membership to ensure the code is practical and widely adoptable. For more information, visit: http://sustainablecrops.ca/ and https://responsiblegrain.ca/. • GRAIN FARMERS OF ONTARIO NEW STRATEGIC PLAN Grain Farmers of Ontario has released a new Strategic Plan. It outlines our commitment to our core values: our farmer-members, our team, our community, our results, our innovation, our honesty and integrity. The complete 2021 Grain Farmers of Ontario Strategic Plan is available on our website. • 17 ONTARIO GRAIN FARMER APRIL/MAY 2021 Win! Enter the monthly online contest for 2021 at www.ontariograinfarmer.ca . In April/May - enter to win one of 12 1.2 litre bottles of Shieldex corn herbicide courtesy of Gowan Canada (valued at $478 per bottle). The contest is open to all farmer-members and is online only.