The Market Analysis Group of Agriculture and Agri-Food Canada has again lowered its estimated prices for most crops.
In its October 17 Outlook for Principal Field Crops, the only projected price increase from the September report is on lentils.
In September, Ag Canada dropped its price estimate on lentils by a whopping $190 a tonne. In the October analysis, the average price outlook for the year has been adjusted upwards by $20 a tonne.
The report notes that large green lentil prices are forecast to have a much smaller premium to red lentils as compared to last year.
A number of crops including durum, chickpeas, mustard and Canary seed maintained the same price estimate as last month. Other crops dropped.
Wheat is down $5 a tonne, barley is down $15, oats dropped $20, canola dropped $30, peas fell $20 and flaxseed is down by $25 a tonne as compared to last month. The drop in flax is on top of a $50 drop in the September report. On peas, the report says green peas are currently at a $140 a tonne premium to yellow peas, whereas last year the premium was $208 a tonne.
The only crops expected to have a better price this year as compared to last year are flax and mustard. Flax is estimated at only $5 a tonne better while mustard is forecast to be $65 a tonne better this year due to stronger export demand.
