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Glacier Farm Media – Prices for green and yellow peas across Western Canada have likely hit their peak, according to Darwin Hamilton of Kalshea Commodities Inc. 

Chicago Board of Trade front and back-month corn futures notched lifetime lows on Wednesday on expectations of a hefty Brazilian corn crop and a lack of weather threats for the large U.S. corn crop that has recently been seeded, traders said.

Chicago cattle futures dropped sharply on Friday while hogs ended the day mixed.

The onset of India’s annual southwest monsoon is expected over the next four-to-five days, which would make for the earliest start of the rainy season since 2009 and sets the stage for good crop production going forward.

With the United States weather forecast calling for rain on April 18 and 21, planting progress could come to a quick stop, said broker Scott Capinegro of AgMarket.net in Chicago.

The demand for lentils has backed off lately due to high prices, said trader Marcos Mosnaim of Prairie IX in Toronto. He said the direction lentils take will largely depends on India.

Yellow pea bids in Western Canada are coming under pressure, while green pea prices hold steady.

Duty-free exemptions for pea and lentil imports into India are set to end over the next few weeks, but a recent extension for pigeon pea imports has led to speculation that the peas and lentils Canada ships to the country could also see their duty-free status extended.

As the deadline for the government of India to further extend its tariff-free period for pea imports expired on Feb. 28, there has yet to be any statement regarding levies on the country's future pea imports.

Futures markets have seen a record-breaking run in cocoa prices in 2024, a surge exacerbated by the hedge funds that provide much of their liquidity heading for the exit.