Yellow Peas/ India. Tariff removal

[mcfarms]

Quite an interesting couple days in the yellow pea markets they went from 11.25 locally to 13.67 in 48 hrs. Following the removal until the end of March of the tariff into India.
I've had every line company in the country either texting or calling wondering if we had any left, we did and we do but made a couple sales the last 36 hours. pretty tight window to get them there sounds like 60 days once they get shipped so we'll see . Never been told so many times that's as high as we're going in 2 days . But then they go higher.
Wonder at what point the Russian prices will put a lid on things.

[furrowtickler]

Good to hear
hopefully get a miracle in the canola market at some point as well

[blueversi]

Elevators finally bidding more than the local pig barn. I said no peas again after this year, but if price keeps rising I might have to put some in again.

[Wheatking]

I wonder if its just a coincidence that Viterra came out with a $11 special a few days before and was phoning everyone to sell. With my location it was the best price at the time when considering transportation and cost of carry. I'm just wondering if there was something sinister going on behind the seens at viterra,

[Guest]

We had $13 picked up here yesterday
wait until they find out there hardly is any
acres were down
yields were down
lots went from the combine for $9.50 here

[TASFarms]

Still a big spread between Maple peas.

[biglentil]

When are red lentils going to get their turn? 37 cents locally

[ajl]

Hopefully this uptick in yellow peas will siphon acres away from wheat, barley and canola in 2024. If it rains in the south we will see 80's style surpluses. Grew peas here once and it was wet year so many of them flooded.

[furrowtickler]

Hopefully this uptick in yellow peas will siphon acres away from wheat, barley and canola in 2024. If it rains in the south we will see 80's style surpluses. Grew peas here once and it was wet year so many of them flooded.

Canola acres on hold here at best to down
definitely will be down in some very dry areas . Crop insurance will be no where near 2023 levels for coverage

[blackpowder]

Sold every kernel of greens off combine for $14.75 very short haul.
Now they're $17-$18 depending.
Oh well. Not happy but satisfied.

[Stormin]

I wonder if its just a coincidence that Viterra came out with a $11 special a few days before and was phoning everyone to sell. With my location it was the best price at the time when considering transportation and cost of carry. I'm just wondering if there was something sinister going on behind the seens at viterra,

Good observation, I would say that's exactly what they were doing.
That's OK I sold off the combine at $11.25 on a 67 bu./ac crop and promptly bought Bitcoin so I hedged my bet and have done better than $13.67. Gotta make your money any way you can!

[Guest]

That was a good price off the combine
$9.50 here
chucky knows all about bitcoin , he had mentioned that it was a good bet against inflation, he was right

[Stormin]

That was a good price off the combine
$9.50 here
chucky knows all about bitcoin , he had mentioned that it was a good bet against inflation, he was right

Yup, Bitcoin, only place to put your money this year. Not gold, stock market, real estate or machinery. Probably even better in 2024.
Peas were my best crop this year...canola the worst, but still OK.

[westernvicki]

The value of trade: India.

The reminder of what trade does to a market came with a 3$ / bushel boost in pea prices in a few days as India allowed trade with Canada on yellow peas. Definitely a flash in the pan as the boats need to be sold, and loaded, as this window of opportunity is only open in front of Ravi crop. Exporters and buyers needing quick supply chased for commitments.

The move took the market by surprise, as most did not expect to see this in front of the spring election.

All eyes will be monitoring the Ravi crop developments for future market signals, any shortfall could remain interesting, and by then the moisture or lack of it in Canada will be a focus of the trade too boot.

On that note, domestic demand is golden. Sunnydale Foods buys 12 months of the year so keep us in mind for summer inventory of both yellow peas, high bleach greens and fababeans.