Pulse weekly outlook: Canada’s exports solid through first quarter

MarketsFarm — Canadian pulse exports were leaving at the country at a solid pace through the first three months of the 2020-21 marketing year, according to the latest Canadian Grain Commission (CGC) monthly data.

Canada exported 343,000 tonnes of peas in October, taking the 2020-21 year-to-date total to 1.136 million tonnes. That’s up by about 300,000 tonnes from the same time the previous year, with China accounting for nearly a million tonnes of the business.

China’s demand for peas is primarily linked to the livestock feed sector, which has rebounded from African swine fever at a faster-than-expected pace. Peas are reportedly pricing favourably into rations compared with soybeans and corn.

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Canadian pea prices have shown some strength over the past month, with green peas topping out at $10.25 per bushel and yellow peas at $9.25, according to Prairie Ag Hotwire data.

Canadian bulk lentil exports of 413,800 tonnes through October were roughly double what moved during the first three months of the 2019-20 crop year. Bangladesh has been a noted buyer, with the 119,900 tonnes of business-to-date roughly four times what the country imported at the same time a year ago.

Large green lentils are currently trading in the 30-35 cents/lb. range in Western Canada, while red lentils top out at around 30 cents, according to Prairie Ag Hotwire data.

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