Lentils prices were fairly quiet this April. The issue of the Indian government interfering in the pulse markets was a common theme of the GrainCents Lentils Weekly Digest. We also looked at how India’s monsoon will impact lentils prices.
As we started the month, the market was still digesting the USDA’s Prospective Plantings report said that American farmers will seed just 791,000 acres of lentils in 2018/19. This would be more than 300,000 acres (and 28%) below 2017/18’s American lentils acres.
For the remainder of April, the lentils market lacked fresh news to reverse the downtrend trend in lentils price in Canada or elsewhere in India. It’s no surprise to most that Canadian lentils exports remain slow.
At the end of the month, StatsCan said that Canadian farmers will plant 4.05 million acres of lentils in 2018/19. This is down about 8% year over year but well above pre-report expectations and thus the bearish headwinds remain for lentils prices.
Based on what we’re watching, India’s market conditions, North American weather will be the major factors to look at going forward.
This month we have talked about alternative uses for lentils, US trade policy, and took a peek at how India’s monsoon rains impact lentils. Specifically, we have looked at:
- Lentils are now in your bread;
- What will pay better – red or green lentils?; and
- And what in the world is going on with the US trade policy?
Be sure to sign up for your free 3-week trial at GrainCents as this month could be the most impactful for how and when you price your lentils for the rest of 2017/18 old crop, as well as a significant portion of your 2018/19 new crop production.