Farm Credit Canada forecasts prices gains ahead

Prices for canola, wheat and red lentils will go higher in the comings months, Farm Credit Canada says in its latest price projections.

Canola will average $520 a tonne over the next six months, the ag lender said in an early-November e-newsletter. That compares to $443 a tonne for the Jan.-Sept. period. FCC pegs spring wheat at $256 a tonne (versus $227 in the first nine months of the year) and red lentils at $544 (versus $523). It also forecasts prices for yellow peas ($267/tonne), feed barley ($228), and durum ($271) will trend sideways or slightly lower.

If the forecast proves accurate, the clear winner will be canola, which FCC says has averaged $468 a tonne during the past five years.

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