2017/18 (old crop yellow peas)
Moving from 80% to 90% sold, selling 10% for anything in 2Q2018 (Apr/May/June 2018) movement. Depending on region, prices are ranging from $7.00 – $7.50 CAD / bushel.
2017/18 (old crop green peas)
Moving from 60% to 80% sold, selling 20% for anything in 2Q2018 (Apr/May/June 2018) movement. Depending on region, prices are ranging from $9.00 – $9.25 CAD / bushel.
2018/19 (new crop yellow peas)
Moving from 0% sold to 20% sold, looking for movement in September/October 2018 (off the combine). You should be getting an AOG on this. Price point is around $7.00 CAD / bushel, dependent on the region.
2018/19 (new crop green peas)
Moving from 0% sold to 20% sold, looking for movement in September/October 2018 (off the combine). You should be looking to get an AOG on this. Price point is around $8.25 CAD / bushel, dependent on the region.
Click here to post your old or new crop yellow peas or green peas on the FarmLead Marketplace. Please note that for new crop feed barley posts, make sure the crop year shows 2018.
Obviously, we also recommend you shopping the local options but there a fair amount of peas bids on the FarmLead Marketplace. Click the link and start a few negotiations (this is in addition to posting your own offer).
Today, we’re recommending moving another 10% of old crop yellow peas to get to 90% sold. If your 10% doesn’t add up to a full truck of yellows, maybe considering closing out your old crop yellow peas position and moving to 100%.
There’s also some strong green peas premiums, relatively to where prices have been for the past year. That being said, we’re becoming very aware of some seasonal demand in the market.
We’re also becoming more cognizant of peas prices starting to pull back in India.
For new crop peas sales, we know that is probably not as much of an acreage pullback as was once expected. The US is expected to see peas acreage fall by 20% year-0ver-year to 908,000 acres. To the north, AAFC is estimating that Canadian peas acreage will drop by 21.5% year-over-year to 3.2 million acres.
That being said, it looks like Manitoba’s peas acreage will expand and we’ll know StatsCan’s numbers for sure next Friday on April 27th. Right now, we think that Canadian peas acreage could actually look closer to 3.6 to 3.7 million acres. This intuitively means that 2018/19 Canadian supply looks a bit bigger than once originally thought.
There are plenty of elevators with pretty strong programs and we’re cognizant of some downside risk to peas prices come Friday, 830AM EST when StatsCan comes out with their report. If the report is bullish, we have some old crop available left to sell for both yellows and green peas, but also a lot of 2018/19 crop left to sell.
President / CEO
FarmLead – North America’s Grain Marketplace
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