WINNIPEG — Following are a few highlights in the Canadian and world pulse markets from yesterday.
• Saskatchewan-based AGT Food and Ingredients (formerly Alliance Grain Traders) had its target stock price (TSE:AGT) raised to C$37 from C$35 in a research report from National Financial on Oct. 6. The firm is also expecting the pulse and special crops company to “outperform.”
• That news came a day after AGT announced that it had signed an agreement to purchase Mobil Capital Holdings, which is a processor and short-line rail operator in Saskatchewan.
Read Also
Klassen: Feeder market continues to climb
For the week ending August 30, Western Canadian feeder cattle markets traded $4-$8/cwt higher on average. Quality yearling and calf packages were up as much as $15/cwt in some cases.
• A heat wave continues to cause problems for pea crops in Australia, according to weather reports from the country.
• Pulse prices in India are on the rise, according to a report from The Times of India, as the festive season is set to begin in the next week. In addition to the seasonal demand increase, a smaller lentil crop in the country was also cited as a bullish influence on prices.
• The U.S. Department of Agriculture has developed a new variety of dry edible pea that will resist a number of yield reducing pathogens, including the pea enation mosaic virus (PEMV) and bean leaf roll virus (BLRV). The variety, called Hampton, was developed by the USDA’s agricultural research service in Pullman, Washington.
• Western Canadian cash bids for both lentils and field peas are holding relatively steady. Spot bids for large No. 2 lentils are topping out in the 40 to 43 cents per pound area, according to a cross-section of posted prices. Number 2 medium and smaller greens top out in the 30 to 38 cents per pound range. For peas, green pea pricing in the C$7.50 to C$7.75 per bushel range is generally available, while prices as high as C$9.00 per bushel are common for yellow peas.
