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P U L S E C R O P N E W S per bushel, so selling now would be below average. One long-standing market principle is that prices will try to return to the average level. From where yellow pea prices are now, the market will try to work higher toward the mean. Unfortunately, there's nothing in the chart that tells us when that might happen, especially since ar ficial factors such as Indian government manipula on and weather variability are major market influences. It's also worth no ng that even though market forces try to pull prices back toward the average, they never stay there for long. The red len l chart is more discouraging, although there could be a more op mis c way to view it. Bids are currently hovering just above the minimum price of $15.65 per cwt and are at the low end of the bo om third. One third of the me over the last 10 years, prices have remained below $22.35 per cwt, so red len ls have a ways to go just to get out of the bo om third. Because of some extreme highs in the past 10 years, the average (mean) is $27.64 per cwt, and current prices are even further below that level. If there is a good way to look at the red len l chart, it's that prices are currently close to the lows. This means there's more upside poten al than there is downside risk, although that doesn't mean zero risk of even lower prices. But over the long haul, they're more likely to work their way higher. Unfortunately, the chart also shows that wai ng for prices to get back into the middle third of the range or up to the mean can take a while. These same types of calcula ons can be done for any crop, given enough price history. Those who are looking to run the numbers for other pulses can find historical prices at the Alberta Ag or Saskatchewan Ag websites. Selec ng the right partner to market your grain is essen al. We've been working with the same growers for years, and it's not a coincidence that they keep coming back. We can demonstrate why we are the number one op on to market your crops. LOCATIONS: • Cutknife • North Ba leford • Swi Current • Saskatoon • Belle Plaine Contact us today to learn more: 1-855-744-4582 | www.iltagrain.com S U M M E R 2 0 1 8 | 2 7 P U L S E C R O P N E W S

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