Yellow Pea Saga

[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!

[farming101]

I personally prefer "no bid" than insulting me with bargain basement blow out prices!

Me too. Along with an explanation

Mumbai spot prices today for "white"(yellow) peas 2500Rs/100kg about 13.39 CAD/bu. Russian origin 12.98 CAD/bu
October report list Canada exports of peas to India at 9.99 CAD/bu. 11.34 CAD/bu average all destinations. That would be all types

[dave4441]

Me too. Along with an explanation

Mumbai spot prices today for "white"(yellow) peas 2500Rs/100kg about 13.39 CAD/bu. Russian origin 12.98 CAD/bu
October report list Canada exports of peas to India at 9.99 CAD/bu. 11.34 CAD/bu average all destinations. That would be all types

Some of this is container freight to smaller destinations. For example not unheard of to have USD $90/MT in ocean frt costs if all they take is container. so 90x1.27/36.743 is $3.11/bu in ocean costs alone. Add in rail to port cost and cleaning and you have another CAD $80/MT or $2/bu. (say $55+25/mt)

Peas are not worth anything sitting in the middle of Canada and unfortunately these costs are real.

[farmaholic]

I guess once panic subsides and sales are pending.....there needs to be "offers". Up to you if you want to take them.

Got calls for my greens too after the yellow fiasco.....were they "bargain" hunting?

[Guest]

Scoular in your corner????

Yea deal there quite a bit . Had $8 contacts there in sept and also sold some overage for $7.25 from combine Pretty quiet there right now

[farmaholic]

Explain the "can" math to me...what's the "90 X 1.27"?

Edit....ooops, Exchange?

[dave4441]

Explain the "can" math to me...what's the "90 X 1.27"?

Edit....ooops, Exchange?

yes USD $90/MT x 1.27 is CAD

[dave4441]

Yea deal there quite a bit . Had $8 contacts there in sept and also sold some overage for $7.25 from combine Pretty quiet there right now

Green market is a different animal but it has been dead long before this situation. Export market is very quiet. Pet food is main home right now for green peas and they will now take yellow peas. $7.25 FOB in SE is purely to go into USA direct for Pet food. That FOB business will come and go.

$7.25 FOB will look hot after xmas. Again, in order to compete with Russia we will need to be in $6-7 delivered basis once india starts buying again. Note that we are down 500,000 MT in first three months of crop year exports with virtually zero sales on books right now. Lentils are half, down 325000 MT. This is nothing to do with the Indian issue. Just lack of demand.

Lots of people trying to blame the duty issue on today's price. Its the other way around. Low price caused the duty.

[Klause]

Green market is a different animal but it has been dead long before this situation. Export market is very quiet. Pet food is main home right now for green peas and they will now take yellow peas. $7.25 FOB in SE is purely to go into USA direct for Pet food. That FOB business will come and go.

$7.25 FOB will look hot after xmas. Again, in order to compete with Russia we will need to be in $6-7 delivered basis once india starts buying again. Note that we are down 500,000 MT in first three months of crop year exports with virtually zero sales on books right now. Lentils are half, down 325000 MT. This is nothing to do with the Indian issue. Just lack of demand.

Lots of people trying to blame the duty issue on today's price. Its the other way around. Low price caused the duty.

Those are going to Winnipeg actually.


I agree with the rest of your post but I think 5-6 here central SK will be needed to make export sense...

[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?

their price for us here is $6.50 fob farm , just checked. the problem with farming at the edge of the world