Seed Market Update - Lack of selling Interest and Sporadic buying pressure
Latest news from the seed desk....
Over the last week, markets have remained relatively flat, with little selling interest from farmers and only marginal buying pressure from foreign markets. With green lentil stocks likely exhausted going into the next crop year and red lentils only having a small carryover, the market appears to have little space to soften in the coming months.
The widespread container and vessel shortages in Canada are currently a major source of concern.
This problem is only getting worse, as more and more ships avoid Vancouver and the possibility of a strike in Montreal grows. Currently, several march sailings are being pushed back to mid-April to accommodate cargo that has already arrived at the port.
The earliest bookings for any new cargo are in April, but even those are not guaranteed. If the Montreal port goes on strike, cargo will be diverted via Vancouver, exacerbating the problem.