Ag Canada Holds Steady on Pea Predictions

VANCOUVER - Mar 31/06 - SNS -- In its latest monthly review of Canadian field peas Agriculture Canada's market analysis branch in Winnipeg maintained its prediction 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, unchanged 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, unchanged from last month's forecast, while usage in 2006-07 is forecast at 1.2 million MT, unchanged on the month.

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