Market Unmoved by Record Lentil Crop
PANAMA - Jul 4/16 - SNS -- North American lentil markets were unmoved by seeded area estimates for Canada and the United States, both of which show farmers expanded seeded area by unprecedented amounts.
Land in the crop in Canada soared by almost 1.9 million acres to 5.84 million; while land in the crop in the United States jumped by 437,000 acres to 930,000.
Crops in both countries are developing well, with 90% of Canada's lentil crop rated good or excellent. Moreover, around 20% of the crop is more advanced than normal for this time of year.
Development suggests Canada's lentil harvest could get started earlier than normal, which would help the industry meet opening season shipping commitments as long as crops are harvested in a dry state.
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