Markets Unmoved By U.S. Lentil Intentions
PANAMA - Apr 1/16 - SNS -- The world's lentil markets were did not pause for a moment after the USDA announced land in the crop in the United States would jump 72% over last year to a record 850,000 acres.
If realized, a return to average yields would see production nearly double to 450,000 metric tons (MT). Farmers were responding to record high prices and excellent movement.
Lentil surpluses in the United States have been wiped out in the last two years, with the country expected to finish the 2015-16 marketing campaign completely sold out. If not for purchases from Canadian farmers, processors in the United States would need to shutter their operations before harvest.
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