The Crop Production Show has come and gone and it didn’t bring many changes to the lentil market. We had a few new crop programs pop up for small red lentils but this week the prices have softened a touch. For new crop large and small green lentils, we still have good opportunities available to sign up acres under. On the old crop side of the market prices remain quiet. India’s Rabi pulse crop is in good shape and is only requiring minimal rains in the next two months for it to yield quite well. It is not expected to see a spike in lentil markets as that would be assuming India and Australia will be producing below average yield crops. With the large amounts of acres that were put in, just an average yielding crop will supply a large amount to the market. ...
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Welcome to a new year. We are 4 days away from the start of production week and markets remain quiet. The red lentil markets continue to feel outside market pressure as the Australian crop is now being sold to India. Canadian lentils are also being somewhat affected with Egypt going to zero tolerance on Sclerotinia in lentils, which means buyers will be more cautious on buying #3 lentils. We will have to wait and see how this effects the markets. Large greens have slipped a little in pricing and markets have seemed to turn bearish. On the new crop pricing front, small reds and large greens are hard to find a bid on. Buyers are still showing some interested in new crop small and medium green lentils. Best advice for now is to keep yourself up to date on prices and market fluctuations. ...
Flax prices are mostly sideways this week. #1 quality flax has moved slightly. It was up to $13.25 for a couple of days them back down to $13.00 delivered, but milling quality remains at $13.00 picked up in the yard. The movements are out into Mar / April. Yellow flax demand has been on the quieter side, but $18.50 has traded here and there. StatsCan production numbers have not seen any major changes, rather those changes are coming from the demand side. EU linseed prices have gone up in recent weeks as trade from Russia has been interrupted. There are reports of some residue on Russian flax that is above MRL allowable limits. There are weaker purchases from the US with their larger flax crop, but movement to the EU and China are offsetting those weaker purchases. Flax prices are likely to remain firm. ...
We have seen a recent cold stretch across the prairies, but there is some light at the end of the tunnel. Forecasts suggest warmer weather for the upcoming week, which at this point is very needed. Some more exciting news is talk about increased interest in Canadian oats destined for Mexico. Canada is the main provider of oats in Mexico. Mexico is one of the biggest importers of oats in the world and the Mexican government is trying to promote oats as a healthy dietary requirement. The Mexican government is also trying to promote a healthier lifestyle overall. As for prices, oats have been trading around $2.75 FOB farm for a good quality 2CW. Feed oats have still been sitting around that $2.00 to $2.25 FOB price. ...
The following items were of interest in today’s USDA supply/demand report . . . ...
There hasn’t been much movement in pea prices as of late. Yellow pea markets are holding at $8.25/bu, and the odd buyer still able to pay $8.50/bu FOB for January – February, movement depending on location. Since last week, there still hasn’t been a change in green pea pricing. For a larger varieties $9.00/bu FOB should still be attainable for most areas in Saskatchewan. We also have a small market for smaller variety green peas sitting around $8-8.25/bu FOB depending on freight. Currently, we have no new crop pea pricing available, but opportunities should be brought to light any week now. It is good to know your variety when calling in for prices. Overall the field pea markets held firm from last week’s trading. India has planted a record area of pulses; their progress is coming along quite well. ...
Recent Commodity Bids
Lentils - Large green
Movement: DELIVERED January - February, 2017
Area: Contract Type: Spot Purchase
$0.65/lbGrade: #1 Canada
Flax - Brown
Movement: DELIVERED January - February, 2017
Area: Central AB Contract Type: Production ContractMax 8% dockage
$12.50/buGrade: #1 Western Canada
Mustard - Oriental
Movement: FOB January - February, 2017
Area: Contract Type: Production Contract
$0.32/lbGrade: #1 Canada