Bullish Momentum in Lentils

VANCOUVER - Sep 21/07 - SNS -- The world's lentil markets seemed consumed with bullish momentum during the past week, with growers firmly believing in the future value of their crops and end users seeming to capitulate on price.

Advancing prices were helped by rising grower bids in western Canada and a strong Canadian dollar, which finished the week essentially at par with the U.S. dollar. In grower markets, bids for Canadian large green lentils advanced between CDN $0.75 and $1 per 100 pounds (cwt), ranging up to $22.75 for No 1 grade product and $14.75 for No 3 grade farmer's dressed product delivered western Canadian processing plants.

Red lentil bids were unchanged for No 1 grade product, but up $1.25 cwt for No 2 to match No 1 bids at $24 cwt. There were unofficial reports of significantly higher prices being paid for spot red lentils in an effort to entice growers to sell.

Subscribers can read the full text of the article by Clicking here