MarketsFarm — Canadian pea, chickpea and edible bean exports will likely beat earlier expectations during the current 2022-23 marketing year, according to updated supply/demand projections from Agriculture and Agri-Food Canada.
The stocks-to-use rations for the three crops should also tighten as a result.
In its report Friday, the government agency upped its call for Canadian pea exports in 2022-23 to 2.6 million tonnes, from an estimated 2.5 million in March. Ending stocks were cut by the same amount, now at 550,000. The stocks-to-use ratio was lowered to 17 per cent, from 21 per cent. If realized, pea exports would be well above the 1.91 million moved during the previous drought-stricken year.
Read Also
U.S. grains: Wheat futures rise on supply snags in top-exporter Russia
U.S. wheat futures closed higher on Thursday on concerns over the limited availability of supplies for export in Russia, analysts said.
China and Bangladesh were both cited as major export destinations, although their demand has been off the five-year average despite coming in ahead of the year-ago pace.
Canadian chickpea export projections for 2022-23 were raised to 225,000 tonnes by AAFC, which compares with 200,000 in March and the 2021-22 level of 176,000. Ending stocks are forecast to narrow to only 40,000 tonnes, from 155,000 the previous year. That would take the stocks-to-use ratio for the crop to only 14 per cent after hitting 65 per cent in 2021-22.
Edible bean exports for the current marketing year were upped to 340,000 tonnes, from 320,000 in March. That compares with 327,000 the previous year.
The supply/demand table for lentils was left unchanged, with 2.3 million tonnes of exports expected during the current crop year and only 100,000 tonnes of carryout stocks. That would see the lentil stocks-to-use ratio at only four per cent.
— Phil Franz-Warkentin is an associate editor/analyst with MarketsFarm in Winnipeg.
