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Pea acres could drop off due to stronger canola and wheat prices

There was a smaller pea crop on the prairies last year.

Peas are a popular crop in farmer rotations, as the nitrogen left behind from a pulse crop is beneficial to the next crop.

Market Analyst Chuck Penner with LeftField Commodity Research says the smaller green pea crop last year was a good rebound from 2021 and allowed the market to move a little above yellow peas.

He says that's keeping the market somewhat supported.

"In terms of domestic use, we have a little bit more use. Some of these facilities that are processing are coming more fully on stream, because they have peas available."

He notes we have a little bit more domestic use, but it's still just under 25 per cent of our production.

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???? Wheat surges on drought: Prices jumped to multi-week highs as worsening dryness grips the Plains, with 70% of winter wheat in drought. Corn edged higher, while soybeans slipped.

??????? Mixed weather pattern: Rain improved parts of the Corn Belt, but drought worsened elsewhere—especially the High Plains and Kentucky. Nebraska conditions sharply deteriorated, with 56% in extreme drought.

????? Oil spikes on tensions: Crude climbed over 3% near $96 as Iran keeps the Strait of Hormuz restricted, while fragile ceasefires keep geopolitical risk elevated. ???? Pulses gain favor: Farmers are shifting to peas and lentils as a rare profit opportunity, driven by strong protein demand and lower input costs.

???? Exports mixed but solid: Corn sales dipped week-over-week but remain strong overall; soybean and wheat sales showed mixed trends, with steady global demand.