Special Crops Outperform Rest of Agriculture

VANCOUVER - May 16/09 - SNS -- Agricultural commodity markets in general seem to be less affected by the calamity engulfing all other aspects of the world economy.

Since October, there has been a general decline in value of all commodities and markets in the face of shrinking consumer spending on discretionary items and negative economic growth in many countries.

During the previous five months, crude oil has lost over half its value. Natural gas dropped 48%. Aluminum fell 60%. The Dow Jones stock market index dropped 37% and the Nikkei 36%.

In the field crop sector, Chicago soybean futures have dropped 24% in value, corn 35%, Minneapolis hard red spring wheat 21%, canola 17%, and rough rice futures 40%. Specialty crop have held up a bit better than other field crops, the U.S. spot market index for dry edible beans dropping 22% since October and the Canadian specialty crop export price index 19%.

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