Crop prices remained robust in November
Alberta wheat, barley and canola prices are all above their five-year averages
By Rob Roach, ATB Economics 11 January 2023 1 min read
Although lower than the records set in June, the latest report from Statistics Canada shows that the average price of Alberta wheat, barley, and canola—Alberta’s three largest crops—all ticked up in November.
Wheat (excluding durum wheat) sold for $444.57 per metric tonne, up 7.7% from October and 20.1% compared to the previous November. The price of wheat in November was 72.1% higher than the average set over the 2017-2021 period.
It’s basically the same story for barley, with the price up 6.5% compared to October, 29.5% compared to the year before and 71.0% versus the five-year average.
Canola prices have also been following a similar trajectory, increasing 2.3% on a monthly basis, 19.2% year-over-year and 69.1% compared to the five-year benchmark.
There are indications that prices have moderated since November, but we expect them to remain well-above the five-year average for some time to come.
Answer to the previous trivia question: The earliest known building code dates back to the 18th century BCE in ancient Babylon.
Today’s trivia question: What are the three main parts of a kernel of wheat (also known as a wheat berry)?