Yellow Pea Saga

[the big wheel]

If there was over supply would it be 16 bucks? Although it usually is about what price normally?

[dave4441]

Would they be 16$ without the import duty?

Tighten supply....

another one of those open market moves?

Prior to import duty peas where about USD $280 CNF India. If you want to do CAD price per bushel it was $9.60/bushel. But Russia was the seller anyway, we were not moving much into the market. Of course you have to take off ocean frt and rail frt and handling on prairies and port. Ocean insurance and LCs come out of that as well.

The yellow pea market will stumble along until any shorts are covered both here and China and it likely gets really weak. We are at $6.75 delivered to Lajord. Can't make the $7.25 fob farm work today on new sales. Need to recognize that not all prices out there in these crops are for new sales. Take advantage of these prices as i have said for the last 4 months, we will have massive carryouts of peas and lentils this year in canada and we need massive reductions in acreage to turn this thing around.

[the big wheel]

Sell sell sell to Someone now because they have the real deals made in the future to make the real money. Hahahah everybody please sell!!!!!

[the big wheel]

And 16 bucks represents a 25% increase in price. Last time I checked my math that means prices definitely weren't 9 bucks over there.

[farmaholic]

A while ago a special crops handler threw out a bid of a little over $6....trying to capitalize on the market panic and fear. That appeared like theivery to me. Prices have "rebounded" a bit and like Dave said....when commitments are filled prices may fall back again.

I hate making excuses for GrainCos....but if they don't have a home for them or can't make sales......how else are they supposed to send the message. I personally prefer "no bid" than insulting me with bargain basement blow out prices!

[farming101]

I personally prefer "no bid" than insulting me with bargain basement blow out prices!

Me too. Along with an explanation

Mumbai spot prices today for "white"(yellow) peas 2500Rs/100kg about 13.39 CAD/bu. Russian origin 12.98 CAD/bu
October report list Canada exports of peas to India at 9.99 CAD/bu. 11.34 CAD/bu average all destinations. That would be all types

[dave4441]

Me too. Along with an explanation

Mumbai spot prices today for "white"(yellow) peas 2500Rs/100kg about 13.39 CAD/bu. Russian origin 12.98 CAD/bu
October report list Canada exports of peas to India at 9.99 CAD/bu. 11.34 CAD/bu average all destinations. That would be all types

Some of this is container freight to smaller destinations. For example not unheard of to have USD $90/MT in ocean frt costs if all they take is container. so 90x1.27/36.743 is $3.11/bu in ocean costs alone. Add in rail to port cost and cleaning and you have another CAD $80/MT or $2/bu. (say $55+25/mt)

Peas are not worth anything sitting in the middle of Canada and unfortunately these costs are real.

[farmaholic]

I guess once panic subsides and sales are pending.....there needs to be "offers". Up to you if you want to take them.

Got calls for my greens too after the yellow fiasco.....were they "bargain" hunting?

[Guest]

Scoular in your corner????

Yea deal there quite a bit . Had $8 contacts there in sept and also sold some overage for $7.25 from combine Pretty quiet there right now

[farmaholic]

Explain the "can" math to me...what's the "90 X 1.27"?

Edit....ooops, Exchange?