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Conflicting News in Peas

VANCOUVER - Jun 23/06 - SNS -- Australia, the USDA, Statistics Canada and India kept field pea markets during the past week, trying to assess the impact the differing fundamental and technical influences will have on prices.

The week started with the Australian Bureau of Agricultural and Resources Economics (ABARE) saying field pea seedings in the country will be sharply lower than forecast by Pulse Australia.

Instead of the 914,000 acres expected to be sown, ABARE said it expects just 689,000 acres to be planted this year; and instead of a 465,000 metric ton (MT) harvest, it said Australia will grow just 328,000 MT of peas.

On Wednesday, the USDA followed up by announcing a tender to buy 7,270 MT of whole yellow peas; 680 MT of yellow split peas; and 750 MT of whole green or yellow peas; all for shipment in August.


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