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U.S. Lentil Growers Getting LDP
WASHINGTON - Jun 23/05 - SNS -- Prices for lentils have fell below the U.S. loan rate for the first time in May of this year since the commodity was covered by the U.S. Farm Bill, notes Gary Lucier in the June edition of the USDA Economic Research Service's Vegetables and Melons Outlook.
"With another surge in production expected this summer, the national posted price for lentils declined to $11.55 per cwt during the week of May 20—the first time this season the national posted price had averaged below the $11.72/cwt loan rate. The national posted lentil price, which fell to $10.81/cwt on June 17, has been on a downward trend since the most recent peak of $14.20/cwt early last November," Lucier wrote.
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