Over the next several weeks, FCC Ag Economics will help you understand the rapidly evolving business environment due to COVID-19. We’re updating our 2020 Grains, Oilseeds, and Pulse Outlook to reflect changes in the operating environment.
Profitability is expected to remain tight in 2020 for grain, oilseed and pulse producers. Price volatility has surged through the first three months due to COVID-19. Lower prices of agriculture commodities have been partially offset by the lower Canadian dollar.
We expect average prices for corn, soybeans and feed barley to be lower than their 2019 averages. While canola, durum, yellow pea, and red lentil prices are expected to average higher than last year, they are still projected to be under their 5-year average. Spring wheat is the only commodity for which the 2020 average price is expected to be higher than the last year and 5-year average levels.
Click here to see more...