Feed Peas Close on Easier Note

VANCOUVER - Nov 25/05 - SNS -- European feed pea markets finished the week on a mostly easier note in U.S. currency terms, reflecting strength of North American currencies versus the Euro.

North American feed markets were mostly unchanged on the week, with some fill in buying reported by exporters and light demand from local feed mills.

Growers in Canada and the United States are becoming anxious with pricing levels. But with a weaker close for both corn and soybean meal markets and worries about the depth of international feed ingredient demand because of avian influenza is keeping competitive pressure on peas.

Markets were not helped by media reports the deadly H5N1 strain of the bird flu virus has been confirmed in 23 of 30 provinces in Indonesia and a new outbreak was detected in Vietnam.

"The growing spread of this virus is likely one of the reasons that soybean exports are so weak and the problem is not apt to be resolved anytime soon," notes Todd Hultman of Dailyfutures, Inc.

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