Cash prices as of noon on Friday, February 17, 2017 are as follows:
SWW @ $193.79/MT ($5.27/bu),  HRW @ $193.79/MT ($5.27/bu)
HRS @ $215.97/MT/ ($5.88/bu),  SRW @ $193.79/MT ($5.27/bu)

Harvest 2017 prices as of noon on Friday, February 17, 2017 are as follows:
SWW @ $211.89/MT ($5.77/bu),  HRW @ $211.89/MT ($5.77/bu), 
HRS @ $233.56/MT ($6.36/bu),  SRW @ $211.89/MT ($5.77/bu), 

Marketing Education
Technical analysis: Indicators
What is a 'technical indicator'?
 
Technical indicators are a series of mathematical calculations based on historic price, volume, or in the case of futures contracts, open interest information that is compiled in a formula with the intention of forecasting market directions or trends. These individual indicators all have their own identities which do a similar job but differ slightly in their construction. The indicator’s main purpose is to act as a support system by helping confirm buy and sell signals on a price chart.  They usually appear at the bottom of a chart and are part of the technical analysis tool kit to help identify and confirm trends and patterns. Other purposes of these indicators are to identify the momentum of a given price move and to recognize "overbought" or "oversold" conditions on the underlying commodity or stock.
 
Many technical indicators are similar in nature with the only real difference being the numbers used in the equation. By adjusting the default numbers assigned to that particular indicator, one might be able to achieve better results on a given chart by changing those numbers. This is achieved by back testing the current indicator you choose and changing the numbers to give you a more accurate result. New indicators are often back tested on historic price and volume data to see how effective they would have been to predict future events.
 
Examples of common technical indicators include Relative Strength Index (RSI), Accumulation Distribution (AD), Money Flow Index (MFI), Stochastics, MACD, and Bollinger Bands.
 
Technical indicators or "technicals", do not analyze any of the fundamentals on the underlying commodity business or stock shares, such as earnings, revenue, and profit margins. Technical indicators are used mostly by active or swing traders, as they are designed primarily for analyzing short-term price movements. To a long-term investor, most technical indicators are of limited value, as they do not take in to account any fundamentals of the underlying business. However, using the indicators helps identify good entry and exit points for both short and long term traders. •

Feedback is important.  If you find this education series beneficial, please contact Marty Hibbs, Grain Merchandiser at mhibbs@gfo.ca.

DISCLAIMER: This information has been compiled from sources believed to be reliable, but no representation or warranty, express or implied, is made by the author, by Grain Farmers of Ontario, or by any other person as to its accuracy, completeness or correctness and Grain Farmers of Ontario accepts no liability whatsoever for any loss arising from any use of same. •

Grain Farmers of Ontario is still accepting responses for the neonicotinoid survey being conducted by BDO. The deadline for responding to the survey is March 1. 

This survey is important to Grain Farmers of Ontario as the data we collect will help us develop our policy environment in the future. We appreciate the number of responses we have received to date. If you have not submitted your survey, you can complete it online at www.gfo.ca/neonicsurvey. •

Grain Farmers of Ontario has received several calls from farmers and industry associates requesting extra copies of the Market Utilization Overview that was distributed with the February edition of the Ontario Grain Farmer magazine. The booklet can now be downloaded online at www.gfo.ca/Market-Development/Market-Development-Programs. You can also phone the Grain Farmers of Ontario office (1-800-265-0550) and request an additional copy be mailed to you. •

The Rural Ontario Institute (ROI) is launching the Ontario Soil Network, a unique soil-focused leadership course that is being piloted in southwestern Ontario in 2017. The course begins in March and is open to 25 farmers who are currently working to improve soils and would like to develop their leadership and communication skills. This program is being supported through the Ontario Ministry of Agriculture, Food and Rural Affairs, along with a host of related farm organizations, including: the Ontario Soil and Crop Improvement Association; Innovative Farmers Association of Ontario; Farm & Food Care Ontario; Ecological Farmers Association of Ontario; and the Soil Conservation Council of Canada.

A great line-up of speakers, including Odette Menard, Lee Briese, and Ryan Stockwell, along with Bernard Tobin, Kelly Ann McKnight, and Don Lobb, are sure to inspire and challenge Ontario farmers to lead the way in soil health.

More information and an application form are available online at www.ontariosoil.net. Applications are due by February 28. •

A new series of features on Field Crop News, called Situational with Sikkema, is focusing on weed management in field corn with data provided by Dr. Peter Sikkema, professor of field crop weed management at the University of Guelph Ridgetown Campus. The first article, posted this week, shows how large weeds impact corn yields. •

The 2017 March Classic will be held on March 21 at the London Convention Centre in London, Ont. For those looking for accommodations – time is running out to take advantage of the group discount rate at the DoubleTree by Hilton hotel.

Use code “GFI” to book under the Grain Farmers of Ontario individual room block; or call 519-439-1661 or 1-800-HILTONS.

For more information and to register for the March Classic, visit www.gfo.ca/About-Us/Events/March-Classic-2017. •

Grain Farmers of Ontario sat down with the Ontario AgCast on Friday, February 17 to discuss Grains in Action and other initiatives of the organization. The Ontario Ag Cast is a regular podcast hosted by Wendell Schumm who speaks with a variety of people involved in agriculture. Steve McCabe, manager of member relations, and Maegan MacKimmie, communications coordinator, spoke to Schumm in a podcast that will be available in the next month.  To listen to past episodes of the Ontario AgCast visit: https://soundcloud.com/user-725843201 or look for updates on Twitter using #OntarioAgCast. •