MarketsFarm – Before the harvest of lentils gets underway across the Canadian Prairies, there has been some speculation as to which way prices could go, according to Levon Sargsyan of Johnston’s Grain.
“Of the two stories I’m getting, one is from farmers, and one is from buyers, and of course there’s bias,” Sargsyan commented.
“[The farmers] say prices will go up because of the drought conditions. Buyers think prices will actually go down because the acres are up on green lentils,” he continued.
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While Sargsyan noted there are strong arguments to either side, he said everything is dependent on the yields come harvest.
“I’m hearing guys are getting average to below average crops, but also there are places getting a lot of bad crops due to the drought conditions. The drought will make an impact, I’m just not sure to what extent on the overall market,” he added.
As of July 31, Prairie Ag Hotwire listed old crop Laird lentils at 41.8 to 58 cents per pound delivered, dependent on the size, while new crop registered at 40.8 to 55 cents/lb. Estons were priced at 41.5 to 53 cents/lb. for old crop, with the only new crop pricing being for Eston number ones at 48 to 50 cents. The old crop prices for both types was unchanged over the week.
The Richlea lentils ranged from 40.5 to 52 cents/lb. for old crop and 39.8 to 52 cents/lb. for new crop. As for the former, only the number two held steady, with two-cent increases for the other sizes.
The Crimsons saw gains of a half cent to two cents on the week, with old crop fetching 25.8 to 35 cents/lb. The new crop prices were at 28.8 to 33 cents/lb.
French number one lentils garnered 59.5 to 62 cents/lb. for old crop and 60 to 65 cents/lb. for new crop. They saw increases of two cents as well.
— Glen Hallick reports for MarketsFarm from Winnipeg.
