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.