★ Australia's winter pulse planting is nearly complete, with crops off to a promising start across most growing regions. Timely rainfall in northern New South Wales and southern Queensland has boosted soil moisture, supporting chickpea planting and raising expectations for a good harvest. Growing signs of demand from India have lifted chickpea prices to A$710-715 per tonne, and stronger Indian buying could provide further support to the market.

★ Meanwhile, lentil prices remain under pressure due to expectations of record crops in both Australia and Canada. ABARES has forecast Australia's 2026-27 lentil production at 2.21 million tonnes, surpassing last season's record 2.15 million tonnes. The prospect of abundant supplies has encouraged export buyers to seek lower-priced deals.

★ Market participants also remain cautious about weather risks. Despite the strong start to the season, the threat of a super El Niño, frost, and a hot, dry spring could still affect crop yields. In addition, Australia's stricter regulations on the use of paraquat and diquat are expected to increase harvesting and crop management costs. Overall, growers remain cautiously optimistic about the new pulse crop.