The pulse market has been relatively strong compared to most other crops.
That was the message Jonathan Driedger with Leftfield Commodity Research delivered to pulse growers this week during the Saskatchewan Pulse Growers Regional Meeting in Swift Current.
Driedger told the group online and in person that while the pulse market has been doing well, he's not sure just how much upside is left for old crop prices.
He points out that one of the challenges for buyers right now is being able to make commitments that they don't know, they can source.
"You look at something like large green lentils, for example. You know, it's not like there's any left to speak of, but that doesn't mean prices are gonna go higher. You sort of wonder if we aren't sort of tapped out. Green peas, probably similar, right? I'm just not sure how much upside is left in those markets and there isn't much supply left. "
Driedger expects to see pulse acreage go up in 2024
"Looking ahead to next year. We do expect about a 10 per cent increase in pea acres this next year. Still much lower than what we were typically growing for about almost a decade before that though. So we'll see a bump in pea acres pretty heavily weighted to greens in our view, maybe a smaller increase in yellows."
He's also expecting an increase in lentils with red lentil acres just up fractionally.
"We think most of the increase will probably be in green lentils is kind of what we're anticipating here, which then as we look ahead to next year, maybe has some, you know, some implications in terms of where some of the price risks might be when we think specifically about lentils."
To see Driedgers' full presentation during the Saskatchewan Pulse Growers Regional Meeting in Swift Current click here.