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The combining of yellow peas is underway in parts of southwest Saskatchewan. In some years, the onset of harvest causes prices to drop. That doesn’t seem to be the case so far this year with peas. In fact, there are reports of yellow pea bids increasing to as high as $6.50 and even $7 a bushel. There isn’t likely much delivery pressure yet with harvest just starting so maybe bids will slacken in the weeks ahead. Pea growers will remember back a number of years ago when harvest deliveries pushed prices well under $4 a bushel. The market doesn’t have that sort of feel to it this year. India is our top customer for peas and their demand will tell the tale. An increase in prices as a crop is being harvested is a sign of good market potential. There’s also some combining starting on red lentils. On all types of lentils, new crop prices are lower than old crop and the impending harvest seems to be causing some market pressure. However, a red lentil price of 30 to 32 cents a pound is still excellent for those producers who want to sell some product off the combine. I’m Kevin Hursh.
For more information on grain prices visit www.dynagra.com
Kevin Hursh, PAg, CAC