Ontario Grain Farmer December 2022 / January 2023

feed, and residual use and exporting into the European Union. Interest rates are up in 2023, and so is the value of the U.S. dollar. However, this has had the opposite effect on the Canadian dollar, which has been fluttering at the 73 cent level in the fall of 2022. As we look into 2023, no one knows what the value of the Canadian dollar will do. There is a significant effect on the value of Ontario cash corn prices with a Canadian dollar at $0.73 versus $0.85 or $0.90 U.S. This will be something Ontario corn growers need to consider as we look into 2023. WEATHER IMPACTS PRICE At the end of the day, crop weather is always a litmus test for corn prices. Into 2023 this will not change, with July "hot and dry" during pollination being critical for U.S. and Ontario corn and corn prices. Weather nuances throughout the year will add to the uncertainty. The challenge for Ontario corn farmers in 2023 is to put all of these marketing factors together. Risk management never grows old. Daily market intelligence will be key, and 2023 will provide many marketing opportunities. Philip Shaw is a farmer near Dresden and the author of Grain Farmers of Ontario’s Market Trends Report published 14 times per year (available at www.gfo.ca/graintalk). The opinions expressed in this commentary are his own. l ONTARIO GRAIN FARMER 13 DECEMBER 2022 / JANUARY 2023 As we head into 2023, those futures markets tell us that the world wants more corn and is somewhat worried about the supply. Registration Opens: November 1st, 2022 ONLINE AND IN-PERSON CONFERENCE @OAgC23 #OAgC23 www.OntarioAgConference.ca EMBRACING CHANGE Wednesday, January 4th and Thursday, January 5th, 2023 The Southwest Agricultural Conference, Midwestern Ontario Agricultural Conference and Eastern Ontario Crop Conference present...

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