AgCanada Hikes Grower Bid Forecast

PANAMA - Nov 17/17 - SNS -- In its latest monthly review of Canadian chickpeas Agriculture Canada's market analysis branch in Winnipeg updated its production forecast for the 2017-18 marketing year to includes Statistics Canada's production estimates.

It reports production as 81,000 MT from 58,000 hectares, compared to 82,000 MT from 68,000 hectares last year.

Agriculture Canada forecasts exports will reach 110,000 MT in 2017-18, compared to a forecast 108,000 last season and 152,000 MT the previous marketing year. Domestic use is forecast at 6,000 MT in the coming marketing year, versus 16,000 last season.

Season ending stocks are forecast to finish the 2017-18 marketing year at 5,000 MT, versus 5,000 last season and 20,000 the previous marketing year.

Agriculture Canada reckons grower bids for all classes of farmers dressed chickpeas averaged CDN $1000 MT last season and will average between $1200 and $1230 MT in the coming marketing year.