FCC: Economic outlook for grains, oilseeds and pulses sector
February 6, 2023 By Top Crop Manager
What economic trends should producers be aware of as they prepare for the 2023 growing season? According to Farm Credit Canada (FCC), the potential loosening of tight global supply/demand balances and record-breaking fertilizer costs should be top of mind this year.
FCC notes that prices for most principal field crops have already come down from the highs reached in 2022 but remain well in excess of their respective five-year averages. Corn and soybeans are each expected to continue rising from 2021/22 levels – the only prices to do so. The prices for all crops except feed barley will rise relative to year-to-date, before falling with the 2023 crop. Despite the decline, they’ll remain above the most recent five-year average. |READ MORE