STAT Communications Ag Market News

Lentils Find Firmer Footing

PANAMA - Mar 3/23 - SNS -- Lentil markets finished the week's trading on a firm note because of renewed optimism over prospective demand during the balance of the 2022-23 marketing year.

While U.S. markets were largely unchanged, Canada saw improved values for all classes of lentils, helped by the realization over half the available supply on farms has already disappeared. Considering prospective domestic uses, it may be that 66% of the available supply of lentils on farms has effectively disappeared, compared to 50% at the same time last season.

North American markets are waiting for the March 31 USDA seeding intentions report to get a sense of what may be planted in that country. It is hard to infer the direction for plantings in Canada from the U.S. report.

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