Western Canadian pea and lentil markets are holding relatively steady heading into the holiday season, with little movement expected one way or the other until the New Year.
"That's normal for this time of year," said Dale McManus of Johnston's Grain in Welwyn, SK., on the lack of activity and stagnant prices.
"It will stay relatively quiet for a month, and then you may see a move," he added. “You can't really guess at anything at this point with COVID-19 in the mix, as there are plants opening and closing all the time.”
Producers are bullish and looking for higher prices, which has slowed deliveries. At the same time, container shortages across the Prairies have also limited movement, McManus said.
Canadian bulk pea exports have been leaving the country at a solid pace, but Australia recently wrapped up its latest pulse harvest and are selling into the world market. Australian exports typically weigh on world markets at this time of year, as the country does not have much long-term storage.
From a pricing standpoint, Green peas are currently topping out at $10/bu in Western Canada, while Yellow peas are priced as high as $9.25. Large Green lentils are priced at around 31 to 34 cents/lb and Red lentils at around 23 to 26 cents.Click here to see more...