Prairie farmers were looking for significant revenues from last season's bumper crop. But some of the hoped-for profits may not come. How much depends on a number of factors.
Here are eight facts that come into play:
- As of Aug. 1, 2013, an estimated 9.5 million tonnes of grain, oilseeds and pulse crops were on hand, but not yet sold.
- Agriculture and Agri-Food Canada is currently estimating that, when Aug. 1, 2014 rolls around there will be 23 million tonnes of unsold grain, oilseeds and pulse crops.
- In a typical year, canola crushers make a premium of $38 dollars per tonne above what they pay farmers for canola.
- This year, canola crushers are making a premium of $205 dollars per tonne.
- The "world price" for a bushel of Number 1 hard red spring wheat, in Portland, Oregon, on March 24, 2014 was $11.19.
- The price a Saskatchewan farmer is getting, for a bushel of wheat, is $5.54.
- Total number of farmers in Canada: 205,000 (from the 2011 Statistics Canada survey).
- Total number of farmers in Western Canada: 171,000 (Alberta: 50,000. Saskatchewan: 62,000. Manitoba: 22,000).
All of this is up for discussion Wednesday, starting at 8:30 a.m., at the Grain Handling and Transportation Summit, in Saskatoon, at the Saskatoon Inn.
The summit is open to all.