MarketsFarm — Pea bids in Western Canada have come under some pressure over the past few weeks, as harvest of the crop nears completion. However, country movement remains light, as producers concentrate on bringing in their remaining grain and oilseed crops.
“They want to get done harvest before they worry about (pricing),” said grain broker Dale McManus of Johnston’s Grain at Welwyn, Sask. “Once everything is in the bin, you’ll see things loosen up and start moving.”
After the poor crop in 2021, producers are more reluctant sellers — keeping a closer eye on their costs as well, he said.
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McManus described yields and quality for peas as highly varied across the Prairies, with pockets of rain, pockets of hail and other areas that were still too dry. However, pea production was still up overall on the year.
Statistics Canada releases updated production estimates on Wednesday, with little change from the 3.61 million tonnes forecast in August expected. Canada grew 2.26 million tonnes of peas in 2021-22.
McManus noted green peas were accounting for less and less of the total pea crop grown in Western Canada, as increased capacity of protein plants processing yellow peas has increased the demand for that crop.
Bids for both green and yellow peas were topping out at around $12 per bushel in the latest Prairie Ag Hotwire report. Green peas have lost as much as $1.50 per bushel off the top end over the past month, while yellow peas were only down by about 50 cents.
— Phil Franz-Warkentin reports for MarketsFarm from Winnipeg.
