Grain Farmers of Ontario Bottom Line E-Newsletter for July 21, 2017
 
Email Header

July 21, 2017

In this issue:

• Ontario Grain Market Commentary
• Ontario Farm Products Marketing Commission visits Grains Analytical Testing Laboratory

• Grain Farmers of Ontario acknowledges first step in Business Risk Management reform
• Growing Connections at the Honda Indy
• Register for the Advanced Farm Management Program this winter


Full Image
Full Image
Harvest 2017 prices as of noon on July 21, 2017 are as follows:
SWW @ $219.17/MT ($5.96/bu),  HRW @ $219.17/MT ($5.96/bu), 
HRS @ $285.01/MT ($7.76/bu),  SRW @ $218.24/MT ($5.94/bu).


Marketing Education
Technical Analysis: Trends

This week we will look at the recent move in soybeans and show why I have not declared it to be considered an uptrend market, like I have with both Minneapolis and Chicago wheat. This is strictly a technical call, and there is still a good chance that the soybeans will follow suit, but to date we are going strictly by the charts analysis using my indicators and visual interpretation. I am including three charts for your perusal: daily, weekly, and monthly soybean charts from the Chicago Board of Trade.
This chart is the daily September soybean chart. At first glance, it appears to have a runaway market breaking into new highs. This is impressive, but we have to realize that this is a daily chart and does not show the big picture. Remember that the primary trend –  which can stay in play for years – is based on the weekly and monthly charts.
yd2
Looking at the weekly chart here, we see a somewhat different picture. Although we look to be building a solid base, the dynamic move on the daily chart is put into perspective when it is seen in the long term.
yd2
Another more striking perspective is seen on the next chart (monthly), which shows the primary trend and confirms our analysis that much more work is needed to turn this into a full-blown bullish trend.
yd2
Once market trends turn, they can remain in place for years. This should affect the way the marketer views the market in question going forward. We should use monthly and weekly charts to confirm the primary trend while using the daily charts for trade setups and finally we can use intra-day or even hourly charts to pinpoint entry and exit points to fine tune our trading. •

 

 

 

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. •

 

 

 

Full Image

Ontario Farm Products Marketing Commission visits Grains Analytical Testing Laboratory

The Ontario Farm Products Marketing Commission, the regulatory agency that supervises Grain Farmers of Ontario and other agricultural marketing boards in the province, joined Grain Farmers of Ontario CEO Barry Senft, Vice President Crosby Devitt, and Manager, Market Development Nicole MacKellar for a tour of the Grains Analytical Testing Laboratory in Guelph yesterday.
 
The Grains Analytical Testing Laboratory, which was opened last July, is a joint venture of Grain Farmers of Ontario and SGS Canada Inc. It is the first and only lab of its kind in Ontario, offering a full suite of testing equipment for cereal crops, including rheological testing, physical dough and bake testing, and protein level testing. •
Full Image

 

 

 

Full Image

Grain Farmers of Ontario acknowledges first step in Business Risk Management reform

Grain Farmers of Ontario commends federal, provincial and territorial agricultural leaders across Canada for supporting business risk management reform.
 
Today’s announcement of a comprehensive review of the current suite of business risk management programs is welcomed by Ontario’s grain farmers. The initiative was supported by Agricultural Ministers across the country at this week’s Federal-Provincial-Territorial meetings, held in Newfoundland.
 
“We thank Minister Leal for championing this issue,” says Mark Brock, Chair of Grain Farmers of Ontario. “Reliable risk management programs are not just about disaster relief –  having appropriate tools to manage risk enables farmers, like myself, to invest in innovations on the farm benefiting the  economy, environment, and our province as a whole.”
 
With today’s announcement also came unexpected news of reductions to AgriInvest. The changes made to AgriInvest were a unilateral decision made by the federal government.
 
“The cuts to AgriInvest underline the critical need for ongoing collaboration between policy-makers and agricultural organizations,” continues Brock. “With the exception of Crop Insurance, AgriInvest is the only program, within the suite of risk management programs, that works well for our farmer-members and we hope for much more appropriate and effective steps forward through this review process.”
 
Grain Farmers of Ontario is disappointed that the federal government has adjusted this important program, ahead of the comprehensive review of the whole suite of programs. As the review process moves forward, it is critical that effective programs, like AgriInvest, do not suffer. Options coming out of the review are scheduled to be presented July 2018. •

 

 

 

Full Image

Growing Connections at the Honda Indy

The Good in Every Grain was on full display at the Honda Indy in downtown Toronto last weekend. In addition to signage on the racetrack and video screens, the 53’ Growing Connections trailer was set up at the event.
 
Grain Farmers of Ontario staff were on hand for all three days of the race, sharing stories about Ontario grain farms and farm families, discussing ethanol production, and answering questions on hot topics like GMOs and pesticides.
 
Watch this week’s Inside Grain Farmers of Ontario, Episode 52: Communications – Honda Indy 2017 here: https://www.youtube.com/watch?v=S2dB6smc6Vc. •
yd2 yd2 yd2

 

 

 

Full Image

Register for the Advanced Farm Management Program this winter

The Advanced Farm Management Program (AFMP) is designed for Ontario farm business owners and managers who want to elevate their management skills to improve the performance of their farm business. Grain Farmers of Ontario has partnered with the Agri-food Management Insitute to offer a grains-focused session this winter, to be held at the Elmhurst Inn in Ingersoll, Ontario.
 
Participants will attend five intensive one-day sessions with farm management specialists, discussing key business concepts and case studies. For more information and to register, visit www.advancedfarmmanagement.ca or contact Deanna Hutton at deanna@takeanewapproach.ca. Register before November 10, 2017 for a 10% tuition discount. •