Yellow Pea Prices?

[charliep]

A friend has indicasted they are getting bid just under $6 per bu for yellow peas spot and a full $6/bu for mid winter. Are others seeing these bids?

[skhadenuf]

doesn't matter, there are very little peas seeded and very little of those that will yield much. If you're lucky and have some that are good don't even think about locking in that price.

[boarderbloke]

any direction for greens? are/will they stay above yellows?

[furrowtickler]

Greens have been dragging their a$$ so far.

[charliep]

Green peas are a lot more customer driven volume and quality crop (read color in addition to other issues) so this years crop will have to play out to determine the prices/relationship with yellows.

[northfarmer]

we are geting close to 6 for new crop peas bid in the Peace...many have been pricing in this rally as acres are up big up here, and it is the one crop that went in early and on our farm and many in our area looks the best, we are well into podding and even if it stays dry from here on in peas and winter wheat will perform the best as they took advantage of early moisture and were in the best position to take advantage of the rain/snow event on May long.....we priced what we want already and are now on the sidelines with any more pricing of yellows till we see where this ends....I suspect they are filling the India tenders now and am not sure whether the price rise will be sustained for fall delivery once that is done.....i still have my greens from last year and they are a dog....the big carryover has a bearing on these prices....got greedy last year and paid the price....do you wait and miss the boat(pun intended), what will the monsoons bring for India, how bad is the pea situation in SK, acres are up 20 points in alberta??

[dave4441]

The elephant in the room with the pea market is really the carryover, expected to be close to 1 million MT. Think it will be tough to sustain a big rally.

I do not grow peas, but on west side of province i am shocked at how many were seeded and how good the crop looks.

[furrowtickler]

I am talking old crop greens.

[skhadenuf]

the 1 million tonnes projected by whom, the guys wanting to buy from us for 4 and resell it for 9 which is what the Indias are supposedly paying and complaining about?
So is it not true southern alberta has been flooded out?, southwestern saskatchewan? southeastern and northeastern saskatchewan, nearly all of manitoba? or are all these guys just complaining over nothing? that leaves that little area that was dry and now the rain has made it good but isn't some of that area too dry already?

I guess I should have seeded lentils, like some of the guys around here man are those beautiful crops I thought they didn't like rain?

[dave4441]

Do you actually believe there is a 5 dollar profit on a 4 dollar pea or just stating anything that comes to your mind. Take rail cost, stuffing and ocean frt and you are getting there, but you make it sound like the trade is actually making that money.

[dave4441]

The whole "lentils do not do well with rain" thing is hogwash in a sense. We have had 40 bu crimson lentils with 16 inches of rain. The issue with lots of rain was more for the older large green types (lairds) that grew a bunch of straw. Best lentil crop i have grown across the whole farm on Sedley variety was with 13 inches of rain in 2005, averaged 33 bu/ac on stubble. You want heat in the summer of course, but rain itself tends to create yield.

[norton17]

is anyone going out and rutting up (or packing down) their peas by spraying headline this year?

[sawfly]

yes i just sprayed some .
no ruts though.
what are your thoughts on value effectiveness .
seems like a lot of money .
it had better do something.

[skhadenuf]

Somebody is likely making more than 5 dollars a bushel profit on our 4 dollar peas. People don't go to the market and buy a bushel of peas to eat for dinner, they buy pounds or kilos, in the case of pounds 60 lbs/4 bucks is what about 6.6 cents a pound, yeah there is cost of shipping etc etc but food prices change very small in terms of our bushels going from 4 to 6 dollars a bushel but the food cost there is like the bullshit going on here, canary seed same thing, buyers make a big deal out of canary going from 15 cents to 20 cents but that pound is sold for what 3 bucks to 8 or nine bucks so who's making the real money for what risk?

[skhadenuf]

Dave4441, do lentils yield as they look, what I mean is they look fantastic but does that necessarily mean they set seed or do they need something to trigger pod set etc.? Cause those fields are rank looking.