Farm prices still upbeat
Wheat prices in Alberta set another record in May
By Siddhartha Bhattacharya, ATB Economics 14 July 2022 less than a minute
Elevated grain prices spurred on by global supply disruptions and strong demand continue to help offset elevated operating expenditures for Alberta’s farmers.
Wheat (excluding durum) prices in Alberta jumped 8.5% (on a monthly basis) in May, over double the price seen prior to the pandemic in May 2019.
Averaging $453 per metric tonne over the first five months this year, wheat prices across Alberta and BC were up 64% relative to the same period in 2021.
Meanwhile, the price of canola (including rapeseed) eased after consecutive gains since October last year, but still remained 60% higher on a year-to-date basis.
Prices of hogs, poultry and cattle also edged up in the month across most regions in the country.
Answer to the previous trivia question: The European Central Bank is headquartered in Frankfurt am Main, Germany.
Today’s trivia question: When was rapeseed first grown in Canada? (Developed later by Canadian plant breeders, canola is a variety of rapeseed.)