09-07-2014 09:53 AM | Canada

Canada flooding kills Canola crop as cash prices set to rise

Blake Duchek’s farm in Saskatchewan was pummeled with as much as 11 inches (28 centimeters) of rain in the span of three days last month, killing crops that were sitting in several inches to a foot of water. He estimates the losses will cost him more than C$500,000 ($468,000).

“It’s a total write-off,” said Duchek, a 33-year-old farmer who estimates he’s lost as much as 35 percent of his 5,500 canola and wheat acres near Esterhazy. “It’s a big financial loss.”
Full Story : Bloomberg