Local grain and oilseed farmers should expect a better price for their crops this year.
The latest numbers from Statistics Canada suggest that grain prices were up 65% this July compared to the same time last year.
Oilseed prices also saw a nearly 61% increase over last year’s prices.
Overall, crops saw a more modest increase over the past year of just under 40%.
The federal statistics body attributes the price increase to continued demand combined with uncertainty over crop production.
The numbers come in light of recent reports that local crop yields are down approximately 50% from normal levels due to poor weather and surging grasshopper populations.
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