N.A. Pulse Output Sinks 21%
PANAMA - Oct 20/17 - SNS -- Drought like conditions in key growing areas has had an impact on the quantity of pulses produced in North America this year. Current official forecasts are looking for output to drop 21% to 9.73 million metric tons while seeded areas was down just 8% at 13.44 million acres.
However, some market participants believe production is much higher because pulses are generally more drought hardy than oilseeds or cereal grains.
This is reflected in yield estimates by provincial agriculture departments, which are mostly higher than Statistics Canada's initial reports. In the United States, anecdotal reports suggest the USDA was also too pessimistic about the impact of the drought on yields.
Bigger than initially expected crops are a potential problem for field pea and lentil markets because of reduced demand from the Indian subcontinent and increased competition from other origins.
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