Markets Surprised by Lentil Inventory
PANAMA - May 8/16 - SNS -- International lentil markets were caught off-guard by Canada's March 31 stocks in all positions report, which said available supplies plunged from 1.16 million metric tons (MT) last year to just 416,000.
Fears this creates about the availability of lentils at the start of the 2015-16 marketing campaign were eased somewhat by the fact seeding of this year's crop is advancing at an above average pace.
As the week got underway, farmers in Saskatchewan had planted 35% of this year's intended area, compared to 29% last year. Farmers in Alberta had sown 36% of their planned crop by the start of the month, down from 73% sown by the beginning of May last year. If farmers are sticking with their seeding intentions, that represents 1.8 million acres of lentils, compared to 1.26 million at the same time last year.
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