Most commodity prices are down compared to this time last year

With a few notable exceptions, most grains, oilseeds and specialty crops are seeing lower prices than one year ago.

Cash prices for canola started 2023 in the $800 a tonne range. There were ups and downs through the year, but overall prices ratcheted lower ending the year barely above $600 a tonne. That’s a move from the $18 a bushel range down to around $14.

Depending upon the published prices you use, the drop in spring wheat prices from January to January has been $80 to $100 a tonne with current price quotes under $9 a bushel.

On durum, the drought in western Saskatchewan and southern Alberta caused prices to rise in late summer, but prices came back down in the last few months of the year following unexpectedly large durum exports from Turkey. Durum is currently a bit over $12 a bushel, somewhat lower than last year at this time.

Feed barley saw a major price slide through the summer. China resumed barley purchases from Australia cutting into Canadian exports. On top of that, American corn flowed into Western Canada cutting into the domestic market. The year over year slide in feed barley prices is about $100 a tonne. Depending upon location, feed barley is currently around $5.50 a bushel.

Flax prices are down about $100 a tonne over the year.

Meanwhile, a few commodities have seen stable or improved prices.

2 CW oats are about $40 a tonne higher. The removal of import restrictions by India caused yellow pea prices to increase to levels similar to January of last year.

9 mm kabuli chickpeas are also very similar in price to a year ago while lentil values have improved. At around 36 cents a pound, red lentils are a couple cents better than a year ago. Large green lentils have improved dramatically going from around 50 cents a pound a year ago to around 70 cents now.

More from