With the low value of the Canadian dollar in recent months, there's a positive side our ag sector's enjoying. Farm production extension specialist Shawn Cabak outlines the picture.
"Because commodity prices are priced in U.S. currency, we have high crop stocks right now with soybeans, corn, and wheat. And that's actually brought down the world prices. But because the Canadian dollar is so low, that's kept our Canadian values higher for our grains, oilseed and livestock commodities. Farmers are netting a better dollar because of that lower Canadian dollar."
However, Cabak says the low dollar also has a negative effect for farmers.
Source : PortageOnline