The main news this month is that the majority of the crops were seeded with limited distress. A few areas of Saskatchewan have received excessive rain, but not nearly the distress that is being seen in Manitoba, where the bean crop will suffer a massive reduction due to the inability of those farmers to seed acres. Overall, for our main crops in Saskatchewan (Lentils, Peas, Canary, Flax) the crop is progressing well. With some summer heat, we should still see some reasonably early harvest.
Prices, however are remaining steady to firmer due to stronger Canadian dollar along with lower than expected ending stocks in most commodities. In can be said that there will not be a burdensome carryover. In addition, despite frustrating logistics in Canada, demand in the Indian Sub-Continent remains steady. Other main markets also seem to be balanced/undersupplied in their pipeline stocks which is allowing prices to remain steady with some premiums for exporters who are actually able to ship in a guaranteed time period.