STAT Communications Ag Market News

Lentils Surprised by Canadian Intentions

VANCOUVER - Jun 25/10 - SNS -- Markets were caught off-guard by Statistics Canada's updated seeding intentions estimates, even though the number was in line with what the trade expected in April and May.

Actual and intended lentil plantings were pegged at 3.36 million acres, up from the March seeding intentions estimate of 2.875 million.

Prior to the release of the report, some market participants were predicting Statistics Canada would say that lentil intentions had plunged to 2.5 million acres even though potential returns for the crop far exceed those for any other crop that can be grown in western Canada.