Tag: Leftfield Commodity Research

India’s market disruption and the impact on harvest pulse prices

When it comes to making heads or tails on tariff trouble in India, Chuck Penner, with Leftfield Commodities, says that while the news isn’t good, it’s not all bleak. The tariffs and restrictions are set to continue long into harvest, Penner explains, as he breaks down each class and tariff level by crop type (and… Read more »

Mustard acres expected to climb by 40 percent

In a winter where most crop markets don’t appear to be trying to buy more acres, mustard prices have been an exception. “For farmers looking for profitable opportunities, mustard is sticking out like a sore thumb right now,” says Chuck Penner of LeftField Commodity Research in the video below, filmed at CropSphere in Saskatoon earlier… Read more »

Pulse School: What do India’s tariffs mean for pulse markets in 2018?

India’s move to impose prohibitive import tariffs on peas, lentils and chickpeas has left a cloud of uncertainty hanging over the pulse market heading into the 2018 growing season. After back-to-back bumper crops domestically, India implemented a 50 percent tariff on pea imports in November, followed by a 30 percent tariff imposed on lentils and… Read more »

Another blow for pulse crop demand, as India slaps 30 percent tariff on lentils and chickpeas

India has added two more pulses to the list of crops facing steep import tariffs into the country. The Indian government announced a 30 percent import duty on red lentils and chickpeas on Thursday, which takes effect immediately. It’s expected product already on its way to India will be subject to the duties upon arrival. “Production… Read more »

Is this a seasonal slump or something bigger?

Grain markets almost always take a dive as harvest approaches and new supplies hit the market, but the big question for marketing is — will prices rebound or stay at lower levels? “I’ve been doing this for quite a few years and every year I kind of get sucked in a little by it, and… Read more »

India Pulse Export Scare More Smoke Than Fire: Chuck Penner

Concerns that India would no longer accept Canadian peas and lentils due to changes to fumigation requirements on incoming shipments were overblown, says the president of LeftField Commodity Research. India issued a three month extension last week, allowing sales to Canada’s largest pulse export market to continue. “In the end it turns out there was a lot more smoke… Read more »

Oat Prices Rally On Harvest Problems

Oat prices have rallied over the last three weeks due to the poor harvest conditions in Western Canada. The December futures contract in Chicago has climbed more than 20 percent since the start of the month — from US$1.76/bu to around $2.15/bu. “Earlier it looked like we were going to have plenty of oats out there,” says Chuck Penner… Read more »

Pulse School: How High Will Pea Acres Go in ’16?

Pea prices in Western Canada are at record levels and showing no signs of weakness, largely due to the pulse crop shortage in India. Old crop yellow peas are fetching spot bids over $11/bu while contracts for 2016 are in the $9.50 to $10/bu range (most with Act of God clauses). “At this stage of… Read more »

Pulse School: Record Lentil Acres Expected with Spike in Prices

These are exciting times for lentil growers, with record Canadian lentil acres projected for 2016. Red lentil bids in Western Canada have spiked into the C$0.50/lb range due to a combination of poor growing conditions in India and the lower value of the Canadian dollar relative to U.S. currency. “There’s no question we’re going to have acres… Read more »

A Few More Flax Acres Expected for ’15

Strong new crop prices for flax are expected to drive acres higher again in 2015. “The economics of flax currently make a lot of sense. There are a number of new crop bids in the $12.50 (per bushel) range. Compared to other crops that’s quite profitable, and compared to history that’s quite profitable, so I… Read more »

RealAg Markets: Make the Most of Oat Marketing Opportunities — Chuck Penner

If there’s one crop that’s been generating buzz this month, it’s oats, followed closely by flax. A plugged supply chain for our export markets has several farmers exploring other viable crop options for the 2014 growing seasons. Hot on the heels of this, the federal government recently announced funding for the oat market to re-build… Read more »

Which Crop Has the Biggest Downside Risk for ’14? Chuck Penner Weighs In

An unattractive basis is meant to discourage grain sales, but what happens when farmers are willing to sell even then (cash is getting tight, y’all) but bids disappear entirely? Then you have the grain marketing mess that is early 2014. Hear more: Check out all our coverage from CropSphere 2014 Chuck Penner (@LeftFieldCR), with LeftField… Read more »

RealAg Markets: Big Canola Crop & Fickle Buyers Could Limit Canola Market Upside

About this time last year, the canola crop’s respectable acreage base and promising production was being consumed by disease pressure, the bizarre looking aster yellows and then came the Billion Dollar Wind that shook and shattered seeds all over the ground. As we approach swathing and even harvest of the 2013 crop, however, the crop… Read more »

Pulse School: Chuck Penner Weighs in on Pea & Lentil Market Direction

Farmers who had included pulses in their initial crop rotations for 2013 are likely to rewarded for sticking with the crop thanks to continued big demand and lofty prices for most crop types. That’s according to Chuck Penner, owner of LeftField Commodity Research, who spoke with RealAgriculture.com’s Shaun Haney in this episode of the Pulse… Read more »

USDA Report Hammers the Commodity Markets – Chuck Penner

If you cannot see the above embedded audio player, CLICK HERE According to Chuck Penner, LeftField Commodity Research, everyone was waiting for the USDA planting intention report with baited breathe but what shocked (or maybe not) the market was the stocks report. Farmers holding onto old crop crop corn and wheat without unhedged are feeling… Read more »