Grain and oilseed prices were under pressure last week.
P.I. Financial commodity futures advisor Adam Pukalo said canola futures reached a high of $1,001 and then fell $110 a tonne for the week.
Wheat futures were down about 40 cents a bushel.
Pukalo said the weather and latest USDA report played a role in the decrease.
“There is good weather for the central and southern plains, dakota rains might be starting to pressure things down a little bit more as crop conditions start to increase,” Pukalo said.
There is lack of positive news from the USDA, Pukalo said.
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New research shows phosphorus has a positive impact on pea yield, and to a less extent, protein.
The two year project that is funded by Saskatchewan Pulse Growers looked at six locations including Melfort, Scott, Yorkton, Swift Current, Outlook and Indian Head.
Reasearch manager at the Indian Head Research Foundation Chris Holzapfel said there was an average yield increase.
“It worked out to about nine per cent or six bushels per acre which was a pretty substantial increase for a nutrient like phosphorous,” Holzapfel said. “If we only looked at the locations that were responsive, that average was about 13 per cent and about nine bushels per acre.”
Holzapfel said there were even a couple of cases where the yield responses were 20 to 30 per cent.
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angie.rolheiser@pattisonmedia.com
On Twitter: @Angie_Rolheiser
