TRANSPARENCY ON GRAIN EXPORTS
Know the markets or pay the price
New study highlights need for improved information on grain export sales
“The study also indicated that improved market data could help increase the priority for grain in the transportation system because of its value compared to other commodities such as coal.”
The Saskatchewan Wheat Commission has released a study that identifies the need for better grain export sales information for producers. "Understanding the Data requirements for a Transparent Market" by Marlene Boersch studied current publicly available information on Canadian grain exports and compared them to data sources in the U.S. and other countries. The study identified challenges for Canadian grain farmers in finding clear information about sales and export trends that impact their prices.
For example, producers had incomplete information sales volumes that caused the run-up in grain and oilseed prices in late 2020 into 2021. The authors indicate that with better market information, canola producers may have made an additional $1 billion in revenue by timing their marketing to maximize returns. The study also indicated that improved market data could help increase the priority for grain in the transportation system because of its value compared to other commodities such as coal.
APAS members have long called for improved grain sales data and reporting and included this recommendation in our submission to the review of the Canada Grains Act this spring. To read a copy of "Understanding the Data requirements for a Transparent Market" go to https://bit.ly/2RhS3dG
