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Green Lentils Getting Bullish
VANCOUVER - Mar 2/07 - SNS -- Lentil markets finished the week little changed in seasonally light trading conditions, but with a firmer undertone.
Expectations seeded area will decline in both Canada and the United States is adding upward pressure on both spot and new crop markets.
Growers view the situation as having a bullish tinge because of the need for importers to revise their value ideas upward in order to prevent world production from falling below market needs.
The situation in the United States was underscored at the USDA's outlook conference, where the department forecast a net increase of corn and soybean area in the United States this year of 3.7 million acres.
While some land will migrate from the conservation reserve into corn, the balance needs to come from other crops, including lentils and other pulses.
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