Alberta’s drought shaping up to be ‘worse than we saw in the 1920s, 1930s’

May 31, 2024

Lentils only like water twice, explained southern Alberta farmer Lynn Jacobson. “When you plant them and when you boil them.” The earthy pulse may not be massively popular but they’re an attractive crop for farmers facing a drought.

“But they all take a certain amount of water and if you don’t have any water, no matter what your plan is, you’re really going to suffer,” said Jacobson.

For months, Albertans have been worrying about what the unusually dry winter with low levels of snowfall and a summer forecast of light rain. Would it mean dying lawns and wilted flowers? An agriculture disaster? A bad wildfire season?

The past few years have been dry, but it’s been almost 25 years since Alberta has been this dry. Some counties have announced states of agricultural emergency. During the last major drought, in 2001–2002, net farm income was zero. It cost the Canadian economy $5.3 billion and 41,000 people lost their jobs across the country.

In April, Alberta got rain. In fact, the rainfall was above normal for that time of year in much of the province — with the exceptions of central and northwestern Alberta — according to an analysis of drought conditions from Agriculture and Agri-Food Canada.

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Video: Wheat Futures Head for the Moon on Escalating Drought Concerns

???? Wheat surges on drought: Prices jumped to multi-week highs as worsening dryness grips the Plains, with 70% of winter wheat in drought. Corn edged higher, while soybeans slipped.

??????? Mixed weather pattern: Rain improved parts of the Corn Belt, but drought worsened elsewhere—especially the High Plains and Kentucky. Nebraska conditions sharply deteriorated, with 56% in extreme drought.

????? Oil spikes on tensions: Crude climbed over 3% near $96 as Iran keeps the Strait of Hormuz restricted, while fragile ceasefires keep geopolitical risk elevated. ???? Pulses gain favor: Farmers are shifting to peas and lentils as a rare profit opportunity, driven by strong protein demand and lower input costs.

???? Exports mixed but solid: Corn sales dipped week-over-week but remain strong overall; soybean and wheat sales showed mixed trends, with steady global demand.