Red Lentils

[jazz]

I am getting Viterra txts this am saying 50c targets are being triggered. I feel ill. 10k bu old crop sold at 35c just 6 weeks ago.

Going to need the farm stress line at this rate.

[bucket]

Transparent reporting would help..should have been implemented prior to August 1 2012.

Domestic and export sales ..some are still laughing at my suggestion of what's going on domestically.

[oldjim]

No point in looking back - there's enough stress getting this crop harvested without worrying about past decisions. We all make decisions like that based on the information we have at the time.

[beaverdam]

Just got a Viterra text,,,

#1 Durum 13.0 > $20.14/bus

[iceman]

We might need to be careful who we sell to this year. Line companies if you can but for some niche crop you don’t have that option. I’m expecting a nuclear fall out over this.

[jazz]

Going to be interesting marketing this yr. Dump it after harvest and take the win or store it and see if more upside in the new yr.

Hate to lose out on extra money but it would be even worse if this all retraced if the economy stumbles.

[helmsdale]

We might need to be careful who we sell to this year. Line companies if you can but for some niche crop you don’t have that option. I’m expecting a nuclear fall out over this.

Was thinking this yesterday.

Even some line companies are likely to have their nuts in a vice... how many boatloads of peas did they presell for august and september shipment? Theres no futures market to offset your position for that market. Red lentils? Durum?

Once they get a serious handle on production numbers, are they going to be just as remorseful of forward sales and contract penalties as some current farmers? Surely they were looking at the last few years and thinking "past performance is indicative of future returns".

Where do bids go when they realize no amount of "premium" is going to fill their contract positions because the product physically doesnt exist?

They're just as guilty of spending their way to profitability as alot of farmers... major expansions, alot of extra employees, and plenty of bling.

How long before the winnipeg mafia is begging for taxpayer assistance?

[Grahamp]

I have been looking for $13 for some yellow peas and have had no takers. Today I get a text from Adroit, (I have no idea who they are and whether or not they are reputable, to tell you the truth I have no idea how they got my number) anyways they were offering $15 today. It seems the yield reality of the pulses is hitting the market.

[LWeber]

I have been looking for $13 for some yellow peas and have had no takers. Today I get a text from Adroit, (I have no idea who they are and whether or not they are reputable, to tell you the truth I have no idea how they got my number) anyways they were offering $15 today. It seems the yield reality of the pulses is hitting the market.

ND yellows are USD$14.50 or CAD$18.61 - there are yellows going across the border.

Viterra is $13.00 to $14.25 for prompt

the yield reality has been ongoing for a month.

[OvernOut]

I doubt there are enough peas to satisfy North Americans demand, let alone the worlds. IMO peas have the most room at this point to move a lot higher. Lentils are high and think they will go quite a bit higher. At some point of course there is a ceiling. I don't think we're at the top yet, but at the same time our end users are generally poor and they will have find protein substitutes both because of the high price and lack of availability. Guys in SE Sask that had good yields on pulses and durum have won the lottery, BIGTIME!

Don't beat yourself up too much Jazz. There's not a farmer out there that doesn't have a marketing gaff and and least you not one of the many farmers who have a new crop contract at half of today's price that you can't even fill. You're in a better position than most based on your location this year (and most years) and you can be grateful for that! .35 is basically the high for 2020 crop-year. 90% of mine got sold for less than that.