Pricing opportunities Yellow Peas

[Hopperbin]

Seems to be some activity lately.
New crop 6.43 here for Aug. Sept. Even if have old crop left over could probably deliver before harvest but not for sure.
Yet the local pea elevator lately priced some 9 dollar greens for movement a week ago. Seems at a time when other crops are dropping the yellows have shown some strength.

[LWeber]

Check the weather in India

[bucket]

Last year at this time peas for new crop were worth 10 bucks. There is a smaller crop of peas coming and the demand is growing. With the lentil crop abolished in the rosetown triangle would it not be safe to assume some peas are going to be substituted for lentils?

With a 20 bpa crop peas would have to go to 8.50 to make money. 7 bucks for peas should be here before the end of next week.

[furrowtickler]

Do not do SFA, SIT AND WAIT ER OUT, go fisking camping whatever just ignore it. That goes for everything. The market is fishing for the stunned jackfish in the weeds, much like the fert dealers did last year this time.

[Hopperbin]

Well I priced a bit. I remember last year we gotten rid of some high moisture peas when the straight cutters were taking off 12 percent moisture. In fact we could have a lot of high moisture everything this year. My thinking would be to get the peas out of the way and the bins available for the other grains. Have to admit if them peas start hitting 7 or 8 dollars that could very well be the best paying crop on my farm. The other crops will have a lot of catching up to do price wise.

[Hopperbin]

Just found this,

India, the world’s top producer of rice, wheat and sugar, relies on the June-September rainy season to produce food for its 1.2 billion people, as more than half the nation’s crop land isn’t irrigated.

Acreage Shrinks

Farmers planted crops to 30.7 million hectares as on July 10, down 21 percent from a year earlier, according to the farm ministry. Area under rice reduced by 20 percent to 7.43 million hectares, oilseeds 35 percent to 5.6 million hectares and sugar cane 2.3 percent to 4.2 million hectares, the data shows.

http://www.bloomberg.com/apps/news?pid=20601091&sid=a.7XSxoXr7tQ

[mcfarms]

all del months here above 7 now as of yesterday ranging from 7.04 -7.43

[Hopperbin]

Not breaking news but interesting.

http://www.crnindia.com/commodity/ypea.html

[Hopperbin]

http://www.commodityonline.com/commodities/pulses/yellowpeas.php

[Hopperbin]

http://commodious.eruptik.com/commodious_website/Home/index.asp