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March 9 /2010 - Market Update Newsletter

Currency:

This week: CAD continues to strengthen alongside higher oil and stock markets - trading in the mid 1.02's/.9803.

Last week: CAD continued to strengthen into the high 1.03's and then has moved back to just above 1.04 - so for the most part is considered to be in a 450 point trading range between 1.0350/.9660 and 1.08/.9260.

Weather:
Weather talk this week about fact that west side of province went into freeze-up ie Nov 01 very dry and timely rains will be required throughout the growing season and sooner than normal rainfall to produce average crops.

Canaryseed:
No change this week - Canaryseed continues slightly weaker in the country alongside somewhat lackluster demand.

Green Peas:
Lack of demand is weighing on the market which has turned slightly weaker in Canada.

Yellow Peas:
Market continues weak in Canada amid lack of demand from overseas. Direction will be set depending on Govt of India's actions in the short-term.

Eston Lentils:
Most of demand for winter season has been met, although inventory is tight, markets will stay flat from now on if India does not have more demand for whole green lentils. Growers will be tight holders for what inventory is left until new crop 2010 comes in, so prices will hold.

Laird Lentils:
Not much inventory left in Canada, but markets are cautious as prices are high for end users to rotate inventory fast demand will be spotty from now on but low inventory will keep markets firm until new crop 2010 comes in.

Richlea Lentils:
Very small seeded area of richleas, and they will stay at par with large green lentils price.

Kabuli Chickpeas:
Acres have been cut down 50% for crop 2009, stocks will start to get tighter by the end of the year and prices will remain firm, 2009 and 2010 all years, bad weather has left at least 20% of the chickpeas in the field with out being harvested and a fair bit of crop 2009 product has been downgraded to a # 2 or lesser grade.

Red Lentils:
Some demand from Indian Subcontinent at lower levels this week as most markets have bought earlier and would like to hold on placing new orders till the Indian and Turkish crops' situations are known.

Small Caliber Chick Peas Amit B90:
We are still seeing spotty demand from the Middle East and Europe which is keeping this market sideways.

Desi Chick Peas:
The market for whole desi is very quiet, the only demand we are seeing is for split desi chick peas. We expect this market to continue sideways to softer.

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