A grain market analyst sees improving prices this summer for wheat and canola in Saskatchewan.
FarmLink Marketing Solutions’ Neil Townsend spoke about that this past week.
He noted there is some concern about crop yields and strong Chinese buying of canola this fall should strengthen oil seed prices.
“We’ve seen some anecdotal reports about very strong, forward Chinese buying for the fall and early winter,” he said. “Companies are going to have to start to make sure they have the procurements in order so that they can fulfill those contracts.”
Townsend also said he projects wheat prices to be pushing up, because of reduced yields in China, Russia, Australia and the European Union this summer. But, he also said trade uncertainty is affecting the grain market.