A grain market analyst believes Saskatchewan farmers could see canola prices improve another 50 cents to one dollar a bushel by next spring.
Neil Townsend with FarmLink Marketing Solutions says strong demand has pushed up canola almost one dollar a bushel in recent weeks and it could rise even further next spring.
“I think we’re going to see prices going higher,” Townsend said. “And I think in March, April, May, there’s a good chance there will be some transactional prices in Western Canada.”
Townsend is forecasting canola prices will rise another one dollar a bushel next spring.