Quick Market Overview.
Most commodities quiet for new business.
Trade is focused on shipping fall contracts
FX = CAD/USD fell further today to 1.14. Currency savings will be passed on to end markets. I do not expect it to increase prices to growers in Canada.
There is some market discussion that lower oil prices may also impact the ability of oil exporting nations to import high priced food commodities. May have some impact on demand.
Green Peas = India received a lot of product and market is very slow and prices are decreasing in local market. No new business expected until Feb/March
Yellow Peas = USA, China, India remaining aggressive at farmer level. Prices + Volume good enough to clean out a lot of farmer bins. Physical shortage expected in spring time.
Red Lentils = Huge demand remaining in Indian and North Africa for all qualities of red lentils. Prices high and shipping as fast as can be processed. Crop will sell out by spring.
Green Lentils = Market slow but steady. Partly supported by red lentils. High prices in the fall moved a lot of merchandise of all qualities. ISC demanding poorer qualities. Not sure
if the demand will continue or move up to better qualities after lower grades are depleted. I would say prices are at or near the top but will not crash in 2015.
Canaryseed’s = quiet and steady. Supply is slightly short, demand is slow. Should have stable market through 2015.