Ag Canada Cuts if Field Pea Projection

VANCOUVER - Feb 17/06 - SNS -- In its latest monthly review of Canadian field peas Agriculture Canada's market analysis branch in Winnipeg predicted production in Canada in 2006 will fall from 3.1 million metric tons (MT) to 2.95 million.

Seeded area is forecast to rise 2.9% to 3.47 million acres, a reduction of 110,000 acres from last month's forecast.

Agriculture Canada expects this season's exports to finish around 2.2 million MT. It is forecasting exports in 2006-07 at 1.95 million MT. This season's domestic use is estimated at 1.185 million MT, down 50,000 MT from last month's forecast, while usage in 2006-07 is forecast at 1.2 million MT, down 90,000 MT on the month.

Season ending stocks are forecast at 400,000 MT, up 50,000 from last month's prediction. Stocks are expected to total 300,000 MT by the end of the 2006-07 marketing year, up 50,000 MT from last month's forecast.

Agriculture Canada forecast average grower bids will range between from between CDN $105 and $135 MT this season, unchanged from last month. For the coming 2006-07 marketing year, it expects prices to range between $110 and $140 MT, unchanged from last month.

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