Crop prices in Alberta remained high in September
Wheat, canola and barley prices were well above their five-year averages
By Rob Roach, ATB Economics 8 November 2022 1 min read
The going rates for Alberta’s three main crop products were down in September compared to both August and their recent peaks, but were still well above their five-year averages.
At $421 per metric tonne, wheat prices (excluding durum) slipped in September 2022 by 1% compared to the month before and were 34% lower than in June 2022 when they hit $521 per tonne.
Despite the pullback, wheat prices in September were still 44% above their five-year average.
It’s a similar story for canola: At $839 per tonne, the price of the oilseed was 9% lower than in August 2022 and 22% below June 2022 when the price was $1,078 per tonne.
Canola prices in September were, however, still 44% higher than their five-year average.
Barley prices, meanwhile, were down in September by 1% versus August and by 16% compared to their recent peak of $411 in June 2022.
At $347 per tonne, the price of barley in September was 37% higher than its five-year average.
Relatively strong crop volumes this year will work to push Alberta prices lower, but a lot also depends on the degree to which the Russian invasion of Ukraine does or does not disrupt the global food supply going forward.
Answer to the previous trivia question: Measured in dollars, British Columbia exported the most electricity to the U.S. in 2021 at $1.0 billion.
Today’s trivia question: When was the first bagel made?