yellow pea bids

[WRAPper]

Charlie

We have seen bids in the last week in the 4.40 October delivered range in Southern Alberta, at the same time I'm hearing reports that it's as much as 1.00 about "export" values. Have you heard this or is this a tactic to pull forward some peas?
Thanks

[WRAPper]

sorry need to reread closer I meant to type above export .

[melvill]

WRAPper, when prices for special crops rise as quickly as they have for yellow peas recently, there is a pretty good chance that someone - an exporter or exporters - may be short-bought the farmer. In other words, they've made more sales than they have inventory quickly available.

No way of knowing for certain whether short-bought the farmer is what's happening or the very strong demand for yellow pulses from India. More likely it's both.

One thing we do know for certain is that new crop-year yellow pea exports so far this year plus the vessel line-up for Vancouver and T. Bay are nearly equal to last year's very high levels.

Let's hope that not many producers do what some did last year and wait for $4.75 or better to price everything.

[nw9flynn]

Ypea bids are now 4.50/bu del swift current.

[charliep]

I will highlight Desi chickpea prices 16 to 20 cents/lb or $10 to $12/bu). Yellow peas move into this market when prices fall to far out of line.

It is also the time ahead of Aussie harvest.

I believe in a friend of mine's philosophy - reward rallies with sales. Sell some. If yellow peas go higher, sell more.

[melvill]

Yellows delivered to AU at Red Coat/Grassy Lake are $4.50/bu.

[barfuzz]

They are $4.60 at Paterson in Medicine Hat