Yellow Pea Saga

[farmaholic]

Johnston's Grain Marketing is quoting bids and trades of $7.25 yellow peas for SE Sask....

1-800-324-7778

caseih...you by?

[the big wheel]

Well work the numbers back from 16 bucks. Hahaha and then you ll find that yellow peas should never have been where they were prior to the 50% tax.

And and and there is so much more going on between the middlemen and the end men it should all be independently looked at.

Marketing transparency does not exist.

[farmaholic]

16 bucks seems like a bit of a stretch. Organics?

[bucket]

Nope that's what peas are worth in India. .....prices domestically in India ran up after the tax .....

[Guest]

Johnston's Grain Marketing is quoting bids and trades of $7.25 yellow peas for SE Sask....

1-800-324-7778

caseih...you by?

yea , thanks . we did sell one load for $6.30 picked up
anytime I tried johnston , freight was crazy , but I will give them a call

[farmaholic]

yea , thanks . we did sell one load for $6.30 picked up
anytime I tried johnston , freight was crazy , but I will give them a call

Scoular in your corner????

[farmaholic]

Nope that's what peas are worth in India. .....prices domestically in India ran up after the tax .....

Would they be 16$ without the import duty?

Tighten supply....

another one of those open market moves?

[the big wheel]

16 bucks is what they are willing to pay!!!!!!!!!!! 60 pounds in a bushel you can eat quite while on 60 pounds compared to other foods.

But ya they are so over supplied!!!!
Hahaha what fools we are.

[bucket]

Just let the hunger unrest settle in and deepen for a while in India ...

If they don't come back for peas before seeding it becomes a long wait for September 2019.....

[farmaholic]

16 bucks is what they are willing to pay!!!!!!!!!!! 60 pounds in a bushel you can eat quite while on 60 pounds compared to other foods.

But ya they are so over supplied!!!!
Hahaha what fools we are.

....."willing to pay" or grudgingly paying?!?!?!?!?!

[the big wheel]

If there was over supply would it be 16 bucks? Although it usually is about what price normally?

[dave4441]

Would they be 16$ without the import duty?

Tighten supply....

another one of those open market moves?

Prior to import duty peas where about USD $280 CNF India. If you want to do CAD price per bushel it was $9.60/bushel. But Russia was the seller anyway, we were not moving much into the market. Of course you have to take off ocean frt and rail frt and handling on prairies and port. Ocean insurance and LCs come out of that as well.

The yellow pea market will stumble along until any shorts are covered both here and China and it likely gets really weak. We are at $6.75 delivered to Lajord. Can't make the $7.25 fob farm work today on new sales. Need to recognize that not all prices out there in these crops are for new sales. Take advantage of these prices as i have said for the last 4 months, we will have massive carryouts of peas and lentils this year in canada and we need massive reductions in acreage to turn this thing around.

[the big wheel]

Sell sell sell to Someone now because they have the real deals made in the future to make the real money. Hahahah everybody please sell!!!!!

[the big wheel]

And 16 bucks represents a 25% increase in price. Last time I checked my math that means prices definitely weren't 9 bucks over there.

[farmaholic]

A while ago a special crops handler threw out a bid of a little over $6....trying to capitalize on the market panic and fear. That appeared like theivery to me. Prices have "rebounded" a bit and like Dave said....when commitments are filled prices may fall back again.

I hate making excuses for GrainCos....but if they don't have a home for them or can't make sales......how else are they supposed to send the message. I personally prefer "no bid" than insulting me with bargain basement blow out prices!