In the month of June, lentil prices dipped slightly. From what we gathered on the FarmLead Marketplace and from bid sheets, we saw:
• Large green lentil prices fell by 3%;
• Medium green lentil prices dipped by 5%;
• Small green lentil prices dropped by 4%; and
• Small red lentil prices lost 4%.
For our GrainCents readers, we’re watching a variety of factors that might affect lentil prices: 2 are bearish, 1 is bullish, and 4 are noise (AKA you see a lot of headlines about a subject but it doesn’t impact lentil prices that much).
The focus of the market seems to mainly be on India and North American acres.
For India, they’re just coming off a record crop of pulses in 2017/18, so the industry is not in short supply. That being said, we’ve been watching lentil prices in India very closely and sharing some interesting datapoints with our GrainCents subscribers.
In North America, Statistics Canada came out with a very bearish lentils acreage number in April, but has since tempered expectations a bit in their most recent report.
This month, for GrainCents readers, we delved deeper into topics such as:
Heading into the second half of the year, buyers and sellers of grain need actionable insight to make sense of ongoing trade tensions, supply and demand factors, and market behavior. We’re going to see a few wild swings in prices as the summer months progress, and you owe it to yourself to stay on top of the markets.
That’s why we’re offering a free three-week trial to GrainCents, our exclusive sales recommendation service that holds a 93% success rate on getting farmers the best price possible. Sign up right here for your risk-free trial.