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Lentils are the undisputed champion among Saskatchewan cropping options this year. There’s a record acreage and the crop will be the top money-maker for thousands of producers. According to the seeded acreage survey released yesterday by Statistics Canada, Saskatchewan has 2.3 million acres of lentils, a 44 per cent increase over last year. Despite the huge acreage, prices have been incredibly strong. Back in January during Crop Production Week, most market analysts were advising producers to sell their inventory of lentils and to prepare for lower prices in the growing year ahead. The analysts were dead wrong. At that time, red lentil prices were around 30 cents a pound. Now they’re in the range of 47 cents. That’s a $10 a bushel price improvement. Producers who held off on sales made a lot of money. Large green lentils have seen a similar price increase and are now sitting at around 40 cents a pound. Currently, you can lock in a portion of your new crop large green production at 30 cents a pound, while contracts for reds are around 36 cents. Lentils look stellar compared to other cropping options. The biggest regret for many producers is contracting too soon and not getting the top prices for new crop. I’m Kevin Hursh.
Kevin Hursh, PAg, CAC