Mixed Week for Feed Peas

VANCOUVER - Aug 18/06 - SNS -- International feed pea markets managed a mixed performance during the past week, with Canadian track markets firming, while European markets were unchanged to easier.

The ready availability of new crop product in both Canada and Europe is allowing markets to switch from trading the fear of a smaller crop to dealing with the fact of what was produced.

Providing an important backdrop to the market are perceptions that corn and soybean futures are oversold. With corn finishing the week higher, there is a chance that market could start the coming week firmer against technical short covering.

However, soybeans appear to be more resistant to positive influences. China's decision to increase interest rates to help cool its economy was seen as a negative demand development for soybeans.

The combination could be viewed as somewhat neutral toward feed pea market prospects, both domestically and internationally.

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