new crop yellow peas.....

[northfarmer]

we got our first new crop 08 yellow pea bid, close to $7 bucks in the pit at the local terminal, jumped on some already, but it sure seems early, is there something going on that far out to drive this, I know current crop is up, but freight considerations included my farm price is up well over a buck a bushel from my place from last year dd contracts and much earlier this go round???

[railway]

I don't grow yellows, but new crop greens are $7.50 in se sask. Last year it was like pulling teeth to even get a bid for new crop even in March, and then it was only $5.50. Something must be making the buyers a little nervous to be at it this early. They will have to do better than that to buy my acres from greens to yellow.

[cottonpicken]

Across the board acre scramble.

Do you guys know how great it would be if nobody signed nuttin?

[northfarmer]

i have signed nuttin before, my banker did not like that when i had no cashflow.....right now i like peas for acres next year, at least i can forward price at historical highs for my area, know I can deliver and get paid in full.....kind of like the 9.80 canola I priced last week for off the combine 08, the terimals in my area are already booked full at those levels into next fall.....

[btjadenlepp]

I think it's the tight carryout forecast for 2007/08 that's driving the scramble for acres so early. That, and structural increases in demand for yellow peas in places like India (more people and buying power). For green peas, we've all gotten so sick of them and their discounts the last few years, that market needs to work hard to generate interest again.

Just my 2 cents.

[melvill]

Northfarmer, can you share the name of the company that's bidding $7/bu for new-crop yellows?

[northfarmer]

JRI...i have confirmed that they also have bids out elsehwere in discussion with other producers.....

[melvill]

Viterra's Friday new-crop yellow pea bids for delivery to Vulcan, AB - yes they have the USS Enterprise there - were:

August delivery - $6.69/bu.
Sept delivery - $6.91/bu.

[kamichel]

Pioneer Dixon.
7.64 Dec.
8.05 May June
6.28 New crop.
I may jump stupid at the 7 new crop if it comes here.

[melvill]

Oddly enough, Viterra at Grassy Lake, between Taber and Medicine Hat, AB was bidding $7.00/bu for new-crop yellows last Friday. (Note the lower price bid at Lethbridge the same day!) Don't know if these Lethbridge/Grassy Lake bids are still available. A marketing club that I work with -but didn't give them the seven-buck advice - signed lots at seven bucks at Grassy. They're all smiling so much they had to staple the corners of their mouths to stop them from splitting.

[kamichel]

Dixon now paying
8.10 Dec
8.24 Jan
6.55 New crop.
I have only got planting seed for 11 quarters left. But at least I have that.

[SASKFARMER3]

I will plant our normal 8-10 quarters of peas if can get over 7 other wise it will be 4-6

[wmoebis]

Sask3. what will be going in if $7 for peas isn't there?