Lentil market analysis

I enjoy the Pulse Market Report regularly prepared and distributed by Saskatchewan Pulse Growers. Since it’s available by email and at saskpulse.com, they avoid the time lag of some other market reports. The most recent report, sent out yesterday, has three analysts commenting on the lentil market. Although still high from a historical perspective, lentil prices have dropped quite dramatically in recent weeks. An estimated 25 per cent of the lentil crop is yet to be marketed. It makes you wonder what some producers were waiting for. Prices were sitting in the 38 cent a pound range for quite some time, but that obviously wasn’t enough to pry all the stocks out of producers’ hands. Most analysts are suggesting that prices will continue slipping as they move downwards towards new crop values. A record seeded acreage of Canadian lentils is predicted. Many estimates are calling for more than 3 million acres. Those projections are one of the main reasons for softer prices. Producers often blame Statistics Canada, but in this case it’s private estimates that have moved the market. The analysts think there will be a bigger increase in red lentil acreage than in greens and therefore red lentil prices may be the softer of the two in the year ahead. I’m Kevin Hursh.