Last year's drought reduced yields in many areas which resulted in lower stocks for almost all crops in Western Canada. 

Chuck Penner, President of Leftfield Commodity Research, says as a result we've seen some historically high prices, especially when it comes to crops like durum as both the Canadian and U-S wheat and durum crops took a big hit.

"Supplies were relatively tight even before this year, and there wasn't much of an increase in the European crop, the other big supplier. So, we have durum bids that are routinely over $20 a bushel, and so that's been that's been very, very positive. The wheat side has also been very, very strong."

Prices in the pulse market also rallied, with pea and lentil yields dropping as a result of the drought.

Penner says yellow peas saw the biggest gains on the pulse market.

"Some of that demand isn't necessarily from offshore markets from China. Let's say it's more from the U-S and domestic in Canada, where some of these processing facilities have cropped up in the last year or so. And so that's helped push prices up to some very high levels."

He notes the Lentil market is still quite strong.

"There are a few warning signals about lentil demand from India, and some of the economic crisis that's going on in Turkey isn't helpful for lentil demand. So there are a few, I don't even know if I call them clouds, but it's not quite as bright and sunny on the demand side for lentils looking ahead over the next number of months"

He notes some other significant crop price increases include flax at $45 a bushel, canaryseed at 50 cents a bushel, and mustard at $1.25 a pound.

More Ag News

Demand For Beef Remains Strong

It's a busy time of the year for cattlemen, with calving operations underway on some farms and ranches. Normally, producers would have gathered in Saskatoon for the Annual Beef Industry Conference,…

Alberta's 2022 Blue Book

Farmers are busy pencilling in the numbers for this year's cropping season. With that in mind, it's time to think about ordering your 2022 Blue Book. Four of Alberta's crop commissions are once again…

PAMI Gets Equipment Upgrade In Manitoba

The Prairie Agricultural Machinery Institute recently benifited from a Federal grant of over $600 thousand dollars. The investment came through Prairies Economic Development Canada (PrairiesCan) and…

NFU Asks For Fertilizer Price Investigation

The National Farmers Union (NFU) wants to know what's behind the rise in fertilizer prices. "Fertilizer prices have skyrocketed over the past 6 months, and we want to know why", said Don Ciparis,…

Seed Summit Set For February

A Seed Summit will be held February 7,14, and 22 to discuss the future of the seed regulatory system in Canada. The Summit, initiated by Seeds Canada and presented in collaboration with partners… is Moose Jaw's only source for community news and information such as weather and classifieds.

Search the Biz Guide