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Farmers still holding onto old crop feed barley in hopes of better prices may be out of luck this year, as bids continue to drift lower with attention in the market turning to the upcoming new crop.

Glacier FarmMedia – Canadian pulse exports are showing signs of slowing down entering the final months of the 2023/24 marketing year, as end users turn their attention to the looming availability of new crop supplies. Canada has exported 1.286 million tonnes of lentils during the crop year-to-date, running about 25 per cent behind the pace[...]

Shifting weather patterns helped drought conditions significantly improve across much of Canada in May, with the most significant improvements seen through the southern Prairies where an upper-level low provided cooler and unsettled conditions bringing well above-normal precipitation, according to the latest drought monitor report from Agriculture and Agri-Food Canada showing conditions as of May 31.[...]

Spring seeding in Manitoba neared the halfway mark during the week ended May 21, with 47 per cent of intended acres in the ground, according to the latest provincial crop report. That compares with 30 per cent the previous week and the five-year average of 52 per cent done.

Tightening supplies and solid demand continue to keep pea bids well supported in Western Canada, although uncertainty over whether that demand will continue was keeping some caution in the market as attention turns to the upcoming crop.

Canadian lentil area is forecast to be up by 4.4 per cent on the year, at 3.829 million acres, according to the estimates of principal field crops report released by Statistics Canada on March 11. After conducting a survey of producers in December and Janyar, StatCan forecast pea area in 2024 at 3.122 million acres which would be up by 2.4 per cent on the year.

Cargo movement through the St. Lawrence Seaway was up by more than 3.4 per cent in 2023 compared to the previous year, with nearly 38 million tonnes of cargo moved through the binational system, according to a joint report from the Canadian St. Lawrence Seaway Management Corporation (SLMC) and the United States Great Lakes St. Lawrence Development Corporation (GLS).

Canadian lentil stocks are forecast to be extremely tight by the close of the 2023/24 marketing year, which should keep prices well supported despite expectations for a smaller export program.