Pulse weekly outlook: Canada’s exports solid through first quarter

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MarketsFarm — Canadian pulse exports were leaving at the country at a solid pace through the first three months of the 2020-21 marketing year, according to the latest Canadian Grain Commission (CGC) monthly data.

Canada exported 343,000 tonnes of peas in October, taking the 2020-21 year-to-date total to 1.136 million tonnes. That’s up by about 300,000 tonnes from the same time the previous year, with China accounting for nearly a million tonnes of the business.

China’s demand for peas is primarily linked to the livestock feed sector, which has rebounded from African swine fever at a faster-than-expected pace. Peas are reportedly pricing favourably into rations compared with soybeans and corn.

Canadian pea prices have shown some strength over the past month, with green peas topping out at $10.25 per bushel and yellow peas at $9.25, according to Prairie Ag Hotwire data.

Canadian bulk lentil exports of 413,800 tonnes through October were roughly double what moved during the first three months of the 2019-20 crop year. Bangladesh has been a noted buyer, with the 119,900 tonnes of business-to-date roughly four times what the country imported at the same time a year ago.

Large green lentils are currently trading in the 30-35 cents/lb. range in Western Canada, while red lentils top out at around 30 cents, according to Prairie Ag Hotwire data.

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