Scotiabank reports its agricultural index went up 1 point 3 per cent from February to March.
A 5 point 2 per cent increase in canola prices and a 2 point 6 per cent increase in beef prices led the gain.
Scotiabank's Rory Johnston points out beef prices have eased slightly since the end of March due to a small oversupply of fed cattle.
However, he expects demand to ramp up again ahead of barbecue season.
Scotiabank's overall commodity price index was up 7 point 8 per cent from February to March, led by an over 26 per cent increase in its oil and gas index.
