Higher Than Hoped Pulse Inventories
OTTAWA - Sep 6/18 - SNS -- Canada's July 31 stocks in all position report was moderately higher than expected for peas and lentils, with inferred domestic consumption dropping below initial expectations.
Statistics Canada pegged the 2017-18 ending inventory for lentils at 876,000 metric tons (MT), compared to forecasts it would only increase to 755,000. Pea inventories were pegged at 650,000 MT, compared to an expected 549,000 MT and last year's 300,000 MT carry over.
Markets were not surprised by the field pea ending stocks data, but some market participants believe lentil inventories are significantly higher. This partly reflects the belief that inferred domestic disappearance was unrealistically high during the previous two marketing years.
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