PANAMA - Apr 2/21 - SNS -- Markets were somewhat surprised by the USDA seeding intentions report, which found farmers intended to increase area from 528,000 to 611,000 acres.
Competition with grains and oilseeds was expected to be a bigger factor in the minds of farmers, but new crop discounts for those products and relatively smaller discounts for new crop lentils may have been a factor.
In Canada, for example, average bids for new crop large green lentils are discounted CDN $2.05 per 100 pounds for farmers dressed No 1 grade product delivered processing plants and $2.58 for No 2 grade.
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