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Lentil Prices Stay Steady Ahead Of Harvest

Lentil prices have been sitting stagnant as buyers await Saskatchewan’s harvest, and as farmers assess potential damage from heavy rains earlier this week, analysts say.
 
Rainfall in Saskatchewan hit lentil crops, some of which had already been desiccated. That could cause damage to between eight and ten per cent of the crop, says Elyce Simpson Fraser, director of marketing and business development at Simpson Seeds.
 
“The rest of the crop it wouldn’t probably affect much,” she says.
 
Buyers are hesitant to move positions on lentils a couple weeks ahead of any kind of meaningful harvest, Simpson Fraser said. So lentil prices remain relatively firm.
 
Simpson Fraser said Laird lentil prices, depending on grade, are between 30 to 38 cents per pound, and she pegs hard red lentils at about 35 cents per pound.
 
“Buyers have got big positions on for the new crop. They have a lot of product bought and both buyers and sellers are a little nervous about what is out there,” said Bobby Leavins, operations manager at Rayglen Commodities.
 
Source : AlbertaWheat

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