Scotiabank's Agricultural Commodity Index took a beating in August.
The bank says it dropped 5 point 7 per cent from July - and was 12 point 7 per cent lower than it was in August of 2014.
Scotiabank says seasonal harvest pressure lowered wheat, canola and barley prices.
The bank's economists point to the USDA's latest report calling for a third consecutive year of record global wheat production in the 2015-16 crop year as also adding downward pressure on prices.
On the positive side, Scotiabank says China was the biggest buyer of canola seed and oil and barley in 2014-15 - and is expected to import similar amounts this crop year.
The bank's overall Commodity Price Index was down 10 point 5 per cent from July to August - 33 point 3 per cent lower than it was a year ago.
It's now at it's lowest point since January of 2005.
