Pulse weekly outlook: Tight supplies push up green lentil prices

MarketsFarm — Prices for green lentils in Western Canada have been on the upswing, with Lairds rising by between six and 12 cents/lb.

“The summer exports were unusually good and are going fairly well right now,” said Marlene Boersch of Mercantile Consulting Venture Inc. in Winnipeg.

“People are realizing overall green lentil supplies, primarily in the United States and Canada, are tight,” she said. “People are moving to secure their supplies.”

Added to that, farmers are not ready sellers at this time, having sold large amounts during the summer, along with their wheat and canola, according to Boersch.

“They can hold as the market still had momentum.”

Laird lentil prices were at 31-36 cents/lb. delivered for No. 1s, rising six cents over the last month, Prairie Ag Hotwire reported. No. 2s were 30-36 cents/lb., increasing seven cents, while X3s gained 12 cents, at 25-33 cents/lb. However, over the last week, prices were steady to rising a couple of cents.

Richlea lentils rose by five cents over the month to be positioned at 24-28 cents/lb. for No. 1s. No. 2s were up a couple of cents, to 22.5-24 cents, and X3s gained three cents, to 19-22 cents.

As for green Estons, they rose by a lesser amount. No. 1s garnered five cents, at 24-29 cents/lb. delivered; No. 2s were up two cents at 22.5-24 cents and X3s nudged up a penny to 19-20 cents.

Meanwhile, French green lentils bumped up only a penny, to 21-24 cents/lb.

— Glen Hallick reports for MarketsFarm from Winnipeg.