MarketsFarm — Pea and lentil markets in Western Canada are holding relatively steady heading into the holiday season, with little movement expected one way or the other until the New Year.
“That’s normal for this time of year,” said Dale McManus of Johnston’s Grain at Welwyn, Sask. on the lack of activity and stagnant prices.
“It will stay relatively quiet for a month, and then you may see a move,” he said. However, whether that move is up or down remains to be seen.
Read Also
U.S. grains: Soybeans rise on China demand hopes; corn and wheat rebound
Chicago Board of Trade soybean, corn and wheat futures rose on Monday on signs of progress towards the end of a record-long U.S. government shutdown, along with expectations of a revival of U.S. soybean exports to China, analysts said.
“You can’t really guess at anything at this point with COVID-19 in the mix, as there are plants opening and closing all the time,” he added.
Producers are bullish and looking for higher prices, which has slowed deliveries. At the same time, container shortages across the Prairies have also limited movement, said McManus.
Canadian bulk pea exports have been leaving the country at a solid pace, but Australia recently wrapped up its latest pulse harvest and is selling into the world market. Its exports typically weigh on world markets at this time of year, as the country does not have much long-term storage.
From a pricing standpoint, green peas are currently topping out at $10 per bushel in Western Canada, while yellow peas are priced as high as $9.25 per bushel, according to Prairie Ag Hotwire data.
Large green lentils are priced at around 31 to 34 cents/lb., with red lentils trading around 23-26 cents.
— Phil Franz-Warkentin reports for MarketsFarm from Winnipeg.
