Rend and Green Spreads Could Narrow

PANAMA - Aug 17/18 - SNS -- Good harvest progress and the lack of strong buying demand continued contributed to a continuation of the recent weak tone in lentil markets.

Green lentils maintained their premium to red, but some market participants think spreads between the two classes will narrow further, expecting prices for green to decline rather than red to rise.

Canadian growers are moving current and old crop product at a faster pace than last year, with deliveries into the bulk handling system during the opening two weeks of the marketing year jumping from 29,000 to 40,400 metric tons (MT).