This year’s price expectations for canola, flaxseed and lentils saw further declines in the just-released December Outlook for Principal Field Crops Report from Agriculture and Agri-Food Canada.
The Statistics Canada production report released December 4 came up with a record high Canadian crop of 107 million tonnes, surpassing the previous record by 7 per cent.
Higher production means higher carry-out stocks. In the December Outlook for Principal Field Crops report, the price expectation for most crops is unchanged from November.
However, the canola price estimate is down $10 a tonne, flaxseed is down $50 a tonne and lentils are down $20 a tonne.
Canola is now $150 a tonne below the five-year average and flax is at a six-year low.
Since the August report at the beginning of the crop year, expected prices have declined on all commodities with the biggest drops on flax, lentils and Canary seed.
Flax is down $160 a tonne, lentils are down $190 a tonne and the Canary seed price projection has dropped $150 a tonne over the four-month time span.
