July 14 /2010 - Market Update Newsletter
Currency:
This week: CAD has been stronger based on fact that risk is back on in the stock market - so continues to trade in it's recent range
Last week: CAD weakened substantially last two days predicated on general concern and risk being taken off in the stock market.
Weather:
Weather is slowly drying out - however it seems we can still expect one good shower weekly - on average 10- 20% of crops have been drowned out and crops are late due to not having enough sun/heat. Forecast still shows some unsettled (wet) weather for this week across the grain belt.
Canaryseed:
Canaryseed continues weaker - although Minister of Ag announced today that canaryseed shipments can resume to Mexico for a period of 60 days during which this time will be utilized to reach a specification on buckwheat and other weed seeds that is acceptable to the exporters and importers.
Green Peas:
Market is firm in Canada as availability is getting limited
Yellow Peas:
Market is getting firm. Likely to see more demand in coming weeks
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 for new crop only. Most markets have stocks of current crop and would like to hold on placing new orders until the Turkish and Syrian red lentils 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.
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