A bad year for grain producers
Posted Nov 7, 2014 7:42 am.
This article is more than 5 years old.
It’s been a perfect storm of bad growing conditions this year for grain farmers in western Canada.
The Globe and Mail reports the crop has been slashed by about 27 per cent after a wet spring, a dry summer, and an early snowfall in September.
Economist with BMO Nesbitt Burns Aaron Goertzen, tells the paper growers of wheat, canola, soy and other grains are going through a “double hit” of lower prices and smaller crops.
Alberta farmers are making 20 per cent less profit while harvests in other countries are expected to be large.
Experts say overall the industry will still be profitable but growers are already looking to 2015.
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