AgCanada Sees Higher Lentil Prices
PANAMA CITY - Sep 26/15 - SNS -- In its latest monthly review of Canadian lentils Agriculture Canada's market analysis branch in Winnipeg updated forecasts for the 2015-16 marketing year.
It reports lentil production this year will total 2.083 million MT from 3.87 million acres, compared to 1.987 million MT from 3.12 million acres the previous marketing year.
Agriculture Canada forecasts exports will reach 2.0 million MT in 2015-16, compared to 2.229 million MT last season. Domestic use is forecast at 265,000 MT in the coming marketing year, versus 365,000 last season.
Season ending stocks are forecast to finish the 2015-16 marketing year at 265,000 MT, versus 365,000 last season and 786,000 MT the previous season.
Agriculture Canada estimates grower bids averaged $585 MT for all classes of lentils last season and predicts they will range between $750 and $780 MT in 2015-16 for all grades.
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