Normally at this calendar point, there is a lot going on in our pulse world. Not so much this year. Little is changing but neither are core expectations as described in recent research. Users got immediate fill late summer and have a handful of reasons to lay low. Logistics are fueling necessary rationing. Red lentils have other headwinds like uncertain India policy (stock limits and import tariff), and another import choice, which is Australia that everybody on this planet knows about. Domestic, including pet food, generally provides bulk of immediate interest.
Anticipated end demand result is this. Exporters, resellers, brokers and users have reasons to keep positions small. Trading demand is subdued, yet consumptive demand rolls along. Instead of more conventional sugar-rush all-or-none moments, anticipatory trading demand is contained. This instead means a shallower less volatile but elongated trading demand period, that may only convey spunk later winter. Every pulse has a different tweak and positional starting point. This has been researched. Drop me an email for more information.