Canadian Dollar Impacting Markets

Sep 18, 2020

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Farmers are busy working on the harvest and hoping to see some strong prices going forward.
 
FCC's Prinicipal Agricultural Economist Sebastian Pouliet says generally markets are running about the same as last year:
 
"For Canola it's better than last year prices are up, but if we look at wheat it's comparable to last year, oats it's a little below.
So, overall we're expecting about roughly the same prices as last year. Currently, on U-S markets prices are increasing especially if
we're thinking especially soybean and corn where prices have been going up."
 
He notes Canada hasn't fully benefited from the increases as the Canadian dollar has also been on
the rise.
 
"So the Canadian dollar being stronger right now it actually does not favor strong prices in Canada for the crops. If we combine the production
and the price data and look into the expected revenue. Because of the increase in production even though prices are fairly stable we're expecting larger crop revenue
for 2020 compared to 2019 and maybe even two or three per cent growth."
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