European Peas Finish Firm

VANCOUVER - Jul 21/06 - SNS -- Feed pea markets finished the week unchanged to firmer as countries such as India competed with domestic users for new crop product from France and the Ukraine, diverting peas from feed to food markets.

At the same time, concerns with the quantity of peas harvested in France this year has become a factor, with grower bids in that country continuing to advance -- though remaining below levels seen between 2001 and July of 2004.

By contrast, feed pea markets in Belgium and the Netherlands were mostly unchanged on the week in local currency terms. Peas still have to compete with the myriad of alternatives available to compound feed manufacturers. Worrying for feed pea traders, however, is the notion that as compound feed manufacturers reduce pea usage, their interest in putting the product back into rations seems to wane.

Canadian feed pea markets ended the week on an easier note, reflecting a general decline in prices for competing feed ingredients; and rapidly advancing crops in both Canada and the United States.

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