Canada Markets

Large Green Lentils Flash Sell Signals

Cliff Jamieson
By  Cliff Jamieson , Canadian Grains Analyst
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Large green lentils delivered Saskatchewan plants are seen nudging higher this week, with reporting an average provincial bid of 59.25 cents, approaching the weekly high of 63.33 cents reached in late December 2021/early January 2022. (DTN graphic by Cliff Jamieson)

Saskatchewan Agriculture reported No. 1 large green lentils to average 59 cents/lb. as of June 7 while reports this bid nudging to 59.25 cents as of today. Brokers have recently reported trades in the 60- to 61-cent level, while indicating that buyers are filling the tail end of their 2022-23 needs with demand set to slow.

The 59.25-cent bid is the highest seen in weekly Saskatchewan Agriculture data since the week ending Jan. 19 2022 or almost 15 months, having recouped 82.5% of the move from the January 2022 high to August 2022 low.

The long-term trend in Saskatchewan Agriculture data since January 1992 shows that the weekly price has only been higher in 67 of the 1,646 weeks reported, or 4% of the time, with the April 2016 high seen at 76.06 cents. is reporting new-crop delivery ranging from 49 cents to 54 cents/lb (Aug/Sept/Oct), which also signals a favorable level for some coverage for early delivery. Saskatchewan Agriculture's weekly data since 1992 shows the weekly bid higher than the upper-end of this range, or above 54 cents, in 96 of the 1,646 weeks reported, or 5.8% of the time. These higher prices appeared in the August through October period only once since 1992, which occurred in the fall of 2021.

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