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Trade Optimistic Will Move Peas
VANCOUVER - May 12/06 - SNS -- Statistics Canada's stocks in all positions report pegged the March 31 supply of peas at a higher than expected level.
Western Canadian growers reported they were holding 1.2 million metric tons (MT) in their bins, down from 1.453 million last year, but above the 690,000 MT on hand in 2004. Inventory in the hands of the trade was unchanged at 340,000 MT.
The numbers suggest Canada's ending stock will be between 400,000 and 450,000 MT, but traders remain confident stocks in all positions will fall under 200,000 MT by July 31.
Though no vessels are currently nominated to lift peas at Thunder bay or Vancouver, exporters say there is a large, still to be shipped book on for the spring. This could include some quantity of peas scheduled for movement through Churchill in the summer.
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