Hursh: larger crop pressuring prices

The Statistics Canada production report released December 4 came up with a record high Canadian crop of 107 million tonnes, surpassing the previous record by 7 per cent.

Higher production means higher carry-out stocks. In the December Outlook for Principal Field Crops report, the price expectation for most crops is unchanged from November.

However, the canola price estimate is down $10 a tonne, flaxseed is down $50 a tonne and lentils are down $20 a tonne.

Canola is now $150 a tonne below the five-year average and flax is at a six-year low.

Since the August report at the beginning of the crop year, expected prices have declined on all commodities with the biggest drops on flax, lentils and Canary seed.