Green Pea Prices

[farmaholic]

Just getting done delivering a previously made contract. Overage is priced a buck a bushel lower. Not really complaining because that's where I am seeing the market right now anyway.

Just wondering if and when this market is going to pick up some steam? I thought we would have seen better prices.....didn't France have a shitty harvest quality wise? What other factors?

[theplowboy]

Strong export demand and low Canadian dollar should support higher prices I think.



By Commodity News Service Canada


Winnipeg, Feb. 10 (CNS Canada) – Canada exported 22,400 tonnes of peas during the week ended February 5, bringing the total year-to-date exports to 2.04 million tonnes, according to Canadian Grain Commission data. That compares with 1.67 million at the same point a year ago.

Farmers have delivered a total of 2.61 million tonnes of peas into the Canadian commercial pipeline to date. That’s well ahead of the 1.88 million tonnes delivered by the same time the previous year.

A looming policy shift in India that will force agricultural shipments to be fumigated at the country of export could hurt Canadian pulse exports to the country, according to a report from the Western Producer. Canada currently has an exemption, but that exemption is set to drop on March 31. Pulse Canada is working on reaching a solution.

Number 2 Laird lentils are currently topping out at about 66 cents per pound in Western Canada, while red lentils are bid up to 30 cents per pound, according to the most recent Prairie Ag Hotwire data. New crop bids are considerably lower, topping 40 cents for green lentils and 23 cents for red lentils.

Green pea prices range from C$8.00 to as high as C$9.00 per bushel in Western Canada. Yellow peas also range from C$8.00 to C$9.00 per bushel.

Large calibre (10mm) kabuli chickpeas are currently seeing prices top out at 64 cents per pound in Western Canada.

[Kinger]

Big issue is that India has already bought most of the peas and lentils that they need for next year. Hence the price spike in fall for next year. They buy I think better than a third of canada's pulse production so if they don't come back to the table again we could see this dip sustained for a while.

They did this because of the last two very poor years where they produced very little and have basically bought insurance incase they can't grow any more next year.

[farmaholic]

Anyone want to provide an estimated S/U ratio for the end of 16/17 crop year?

[theplowboy]

That is the right question....