MarketsFarm — Top-end yellow and green pea bids in Western Canada have come down over the past month, as old-crop activity slows down and attention turns to the new crop.
While tight supplies after the 2021 drought did not leave too many unpriced peas in the countryside, some farmers likely still waited too late and were now facing lower prices.
“Now it’s decision time, whether they want to take up space in the bin or take the price that’s offered,” said Dale McManus of Johnston Grains at Welwyn, Sask. He expected prices were unlikely to see much upside for the time being.
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As the harvest in southern Alberta presses on, a broker said that is one of the factors pulling feed prices lower in the region. Darcy Haley, vice-president of Ag Value Brokers in Lethbridge, added that lower cattle numbers in feedlots, plentiful amounts of grass for cattle to graze and a lacklustre export market also weighed on feed prices.
Top-end yellow pea spot bids are currently topping out around $15.50 per bushel, which would be down by about $3 per bushel over the past two months. Green pea prices have also come down, with the high end around $14.75 according to Prairie Ag Hotwire data.
McManus noted that it was normal for bids to come down at this time of year ahead of the harvest, but added that there was still plenty of growing season ahead with many unknown factors that could influence yields.
Some areas have received too much moisture, which could lead to root rot concerns, said McManus.
— Phil Franz-Warkentin reports for MarketsFarm from Winnipeg.
