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CEO of FarmLead reviews the pulse and wheat market going into 2018
There was some tough news coming at the end of 2017 for Saskatchewan Pulse producers.
India, our largest importer of Canadian pulse production, imposed a 50% tariff on Yellow Peas, and a 30% tariff on Lentils and Chickpeas.
Brennan Turner is a Market Analyst and CEO of
"Well, I think what you could say is a government intervention seems to be the theme," he said. "Especially as it relates to pulse crops across western Canada. Unfortunately we saw India's import tax of 50 percent hit the peas market, and still, you are seeing today yellow peas prices trading below feed pea prices."
He says overall it seems as though we are seeing a reversion to the mean regarding the market coming back to reality, where supply is now meeting demand or oversupplying it.
So, we are probably going to see more stabilized pulse crop prices over the next 1 to 3 years depending on the 2018 acreage going in.
Turner adds that there is going to be a record amount of wheat in the world and a record amount of carryover going into the 2018 growing season
He says the wheat market, however, is seeing a bit of a shortage in the higher protein wheat quality, noting there’s a lot of 11 or 12 % protein out there.
Turner is watching the dry conditions here at home and in other wheat producing areas.
Source : Discoverestevan