Scotiabank’s Agricultural Commodity Index Up In June
Scotiabank’s Agriculture Commodity Index was up almost 2 per cent from May to June.
The bank says hog prices led the way – up 8 per cent since May and up almost 50 per cent from a year ago.
Scotiabank suggests strong Chinese import demand expectations are helping boost hog prices.
China’s also having an impact on Canadian grains.
The bank’s latest Commodity Price Index says that country’s proposal to increase the costs of shipping canola there has seen that crop’s prices ease a bit.
Wheat prices gained slightly in June.
Despite the monthly increase, Scotiabank’s Agricultural Commodity Price Index in June was down over 4 per cent from June of 2015.