Red Lentil Analysis

Not much has changed with Red Lentils since our November 27th Red Lentil Analysis outside of the price rising to a Saskatchewan Plant Average of 45 cwt.

December is often a slow month with the holiday, and I anticipate increased activity this month with the New Year and the Crop Production Show in Saskatoon.

The updated chart below shows that while the long-term trend is up, the price is below both the 10- and 20- week moving averages.

Note that the 20- week MA is still advancing, and this is more of a cautionary notice than a moment to panic.

However, a chart review below has past breaks of the 20- week MA leading to lower prices.

A break of 43 will likely lead to the confluence of the green trend line and the 0.382 Fibonacci level at 41.

I am updating my website, allowing the reader to track the analysis for each commodity easily.

You can find the Red Lentils page here: