By Commodity News Service Canada
Winnipeg, April 19 (CNS Canada) – Trade opinions are divided over whether Canadian pulse acres will be up or down in 2017 after the record-large pea and lentil seedings recorded the previous year.
Statistics Canada releases its first survey-based estimates for the 2017/18 crop year on Friday, April 21. Pre-report trade estimates for lentil area range anywhere from 3.9 million to 6.1 million acres, which would compare with the 5.9 million seeded the previous year. Pea acreage estimates also vary widely, from 3.6 million to 4.8 million acres. That compares with the 4.2 million seeded in 2016.
Uncertainty over demand from India and Canadian quality issues in 2016 were both thought to be cutting into acreage intentions on one hand. However, relatively favourable returns per acre, low inputs, and rotational benefits of incorporating more pulses in rotations all come in on the side of increased area.
Top end large green lentil bids are holding relatively firm in Western Canada, with number 2 Lairds currently topping out at about 48 cents per pound, according to Prairie Ag Hotwire data. New crop bids, meanwhile, range from about 31 to 39 cents per pound.
Red lentil bids range from about 22 to 26 cents per pound, with new crop prices also topping out at 24.5 cents.
Top-end pea bids are moving higher, according to the latest Prairie Ag Hotwire data. Green pea bids range from C$7.65 to C$8.75 per bushel in Western Canada, while yellow peas range from C$6.70 to C$9.00 per bushel.
Large calibre (10mm) kabuli chickpeas are currently seeing prices as high as 65 cents per pound in some cases, although a lack of supplies may limit any actual movement.