Top agricultural events of ’09

The top nine of ’09 has a nice ring, but the big agricultural events of the year actually fall into just five broad categories. In agriculture, weather is usually a big story and it certainly was in ’09. The Saskatchewan crop had more lives than an alley cat. Despite drought, delayed maturity, the threat of frost and an extremely late harvest, the crop was above average overall and absolutely stellar in some regions. The flip side of the equation and number two on the list is the big drop in grain prices, particularly on the cereals. After record high prices in ’08, many crops have dropped back to disappointing levels. There are still some profitable crops, particularly lentils and canola, but the year ahead is uncertain. Profitability will likely depend on growing the right crops and having an astute marketing plan. The number 3 story of the year is the crop export barriers that have emerged. Europe has restricted our flax and China has restricted our canola exports. Even a visit by our Prime Minister wasn’t enough to change Chinese policy. Which commodity will be the next to run into a trade barrier? I’ll talk about number 4 and number 5 on the list on tomorrow’s commentary. I’m Kevin Hursh.