In the month of June 2018, pea prices were slightly lower.
Breaking it down, yellow pea prices were unchanged, whereas green pea prices dropped by 2%.
It’s interesting to note that yellow pea prices basically ended the month of June where they started the calendar year. Conversely, green pea prices are basically the exact same as what they were at this time a year ago.
For our GrainCents readers, we’re watching a variety of factors that might affect peas prices: 4 are bearish, 2 are bullish, and 2 are noise (AKA those factors that don’t mean much for pea prices but they continue to make headlines for some reason).
We’ve been looking more closely at the record crop in India, but also have pea prices there have been performing (it’s a bit surprising). We’ve also continued to provide coverage on seemingly stronger demand from China, but with the question in mind of how long can it last for?
We also continue to watch for production and exports out of the Black Sea, as the farmers there are onto something.
This month, for GrainCents readers, we delved deeper into topics such as:
– Stronger demand for peas from India?
– Stats Canada’s estimates for 2018/19 peas acres
– USDA’s estimates for 2018/19 peas acres
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.
