STAT Communications Ag Market News

Spot, New Crop Spreads Narrow

PANAMA - Jun 7/24 - SNS -- International lentil markets finished the week's trading on an easier note as spot and new crop markets begin to converge.

Seeding of this year's crop is virtually complete in North America and other major northern hempisphere producing regions, shifting the focus to the current state of crops and this year's yield prospects.

Markets were somewhat surprised by the first production forecast for 2024 for ustralia, with ABARES predicting the harvest could be unchanged from last season at 1.6 million metric tons (MT) from 884,800 hectares. Seeded area was pegged 30,000 hectares higher than last year.

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