Confirmation of this year’s smaller Canadian crop should help keep Prairie mustard prices firm going forward, according to an industry official.
Statistics Canada’s final crop production report for the 2019 growing season last week pegged the 2019 national mustard crop at 134,600 tonnes, down slightly from the agency’s September estimate and more than 22% below the previous year.
Walter Dyck of Olds Products said there was “wild variation in yield,” across the Prairies, due to the overly dry start to the growing season.
In turn, spot prices for Yellow and Brown mustard have moved higher. Yellow mustard, which was around 35 to 37 cents/lb a few months ago, is currently around 40 cents.
“That’s quite significant for the market to turn that corner, from the 30s into the 40s,” Dyck said.
Brown mustard spot bids have increased only slightly, rising to 31 cents after being around 30 cents for most of the summer. Oriental mustard is currently priced around 25 cents/lb.
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