STAT Communications Ag Market News

Reduced U.S. Area Fails to Support Lentils

PANAMA - Mar 29/19 - SNS -- International lentil markets continued to ease during the past week despite news that farmers in the United States intend to slash seeded area from 780,000 to 555,000 acres.

Growers in that country were responding to the fact that bid levels are at the bottom of their historic price range, sitting at decile one in the U.S. Pacific northwest and under decline one in Montana and North Dakota. Since 2007, farmers have seen higher prices 90% of the time.

Movement has also been relatively slow, with exports from the United States during the first half of the 2018-19 marketing year were down 46% from the same period last season at almost 61,000 metric tons (MT).

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