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Grand River Agricultural Society supports sustainable innovation

GRAS joins Bioenterprise Canada as innovation sponsor

By Lilian Schaer for Bioenterprise Canada

Giving back to the community is part of the DNA of the Grand River Agricultural Society (GRAS) and its portfolio of ventures and programs. This includes a strong commitment to social entrepreneurship and expanding its philanthropic mandate – which is what has inspired the more than 100-year-old organization to become a sustainable innovation sponsor with Bioenterprise Canada, Canada’s Food & Agri-Tech Engine.

“During a recent strategic planning process, we really took a hard look at our vision, mission and values, and although racing and entertainment are our paths, our guiding light is philanthropic,” explains Katie Giddy, Vice President, Operations. “Our new vision is to nourish people, animals and the planet and doing that through supporting innovation, education, communications and economic growth to enable agriculture and the environment to thrive.”

GRAS operates the GrandWay Event Centre, Grand River Raceway and is home to Elements Casino Grand River as a tenant. All net funds generated are reinvested back into activities and facilities that align with the GRAS vision. The organization’s increased financial stability over the last decade has put it into the unique position of being able to distribute funds through impact investing, which includes supporting ag tech companies and entrepreneurs with innovative ideas.

“What we are looking to do is fund early-stage companies who have an innovative approach to solving problems or creating products in the agriculture and environment space,” she adds. “As an early investor in ag tech companies, we’ve opened doors, and by being an agricultural society that is steeped in deep history, we have come to find ourselves in a position of credibility, especially to those outside of agriculture.”

GRAS was one of the first organizations to back Ag Capital Canada and has more recently also built a collaboration with The51 Ventures, which focuses on supporting women-led and diverse businesses. It was through its ongoing search for partners and like-minded organizations that GRAS made a connection with Bioenterprise Canada.

According to Giddy, Bioenterprise’s national network, mentorship capacity, and depth of expertise, as well as its commitment to sustainable innovation, made the Canada-wide accelerator a very attractive partner for GRAS.

“This connection to innovation is a particularly important part of our strategic plan. It’s about connectivity in this ecosystem, and by working together, we can have access to people, processes, and places,” she says. “The hope is that being aligned with an organization like Bioenterprise can help us collectively make any gains in this space go further.”

In addition to its impactful investing activities, GRAS also partners with other organizations in the ag innovation space and has recently launched its Rapid Response to Business Development program. Originally pioneered by Ontario Agri-Food Technologies, the program supports companies who are looking to grow their businesses.

The GRAS scholarship program provides twelve awards of $2,500 each to students enrolled in agriculture or environment-related programs at the post-secondary level. Through various multi-year funding commitments, GRAS also supports their local hospital and organizations such as Equine Guelph, 4-H, Ontario Agricultural College, AgScape, Rural Ontario Institute, Livestock Research Innovation Corporation and Farm & Food Care Ontario.

Source : BioEnterprise.Ca

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Agricultural Market Update: Grain Prices, Crop Conditions, and Weather Impacts

Welcome back to our channel where we provide comprehensive updates on the latest trends and changes in the agricultural sector. This week, we're looking at significant movements in grain prices, crop conditions, and the effects of weather patterns. Let's dive into the details:

Grain Price Decline Grain prices have fallen to their lowest levels since 2020, with December corn down 4.3% and November soybeans losing 3.1%. This decline is partly due to the beneficial moisture brought by Hurricane Beryl to the Midwest, which has improved crop conditions significantly. The USDA reported that corn and soybean crops are in their best condition in four years, contributing to the downward pressure on prices.

Record Short Positions and Market Sentiment Fund traders have increased their net short positions in the corn market to a record level, with a net short of 347,000 contracts of corn. This reflects a bearish sentiment in the market, further influencing grain price dynamics. Similar selling trends were observed in soybeans and SRW wheat, indicating broad market caution.

Weather Impact and Forecast Hurricane Beryl has brought significant rainfall across Arkansas, Missouri, western Tennessee, western Kentucky, and southern Illinois, with more expected over Missouri, Illinois, and Indiana in the coming days. Despite this, the market is currently more focused on the moisture benefits rather than potential heat risks forecasted in the 6-10 and 8-14 day periods.

US Crop Conditions Corn and soybean conditions have shown slight improvements last week, with corn rated 68% good to excellent and soybeans at 68%. These are among the best ratings for this time of year since 2020, suggesting robust crop health that could continue to influence grain prices.

Winter Wheat Harvest and Spring Wheat Conditions The US winter wheat harvest is progressing well, ahead of schedule with significant portions already harvested in Kansas and Texas. Spring wheat conditions are also favorable, with 75% rated good to excellent, although there have been some declines in states like Idaho, South Dakota, and Washington. Brazil's Corn Harvest and US Exports Brazil's second corn crop harvest is advancing rapidly due to favorable hot and dry conditions, with 63% of the crop already harvested. Meanwhile, US corn shipments saw a substantial increase last week, indicating strong export demand, which contrasts with the recent drop in domestic grain prices.

Ongoing Developments Lastly, the USDA reported a flash sale of corn, with significant quantities sold to unknown destinations, scheduled for delivery over the next two marketing years. This could signal ongoing international demand for US corn despite lower prices.

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