A grain market analyst sees improving prices for Saskatchewan farmers this crop year.
Neil Townsend is the senior market analyst with FarmLink Marketing Solutions.
He says strong demand for canola will lead to a boost in prices early next spring.
“We think supplies will be tightened at that point,” Townsend said. “Farmers will be doing other things. We think the crushers will be wanting supply at that point. And the export will still have some interest there, because the Chinese will still have some demand. And other countries will still have some demand.”
Townsend believes current canola prices of 11 dollars a bushel could reach 12 or 13 dollars next spring.
He is also forecasting a 40 or 50 cent a bushel jump in wheat prices over the winter.