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Feed Peas Firm on The Week
VANCOUVER - Aug 25/06 - SNS -- International feed pea markets ended the week on a firming note in both Canadian track and European markets.
Short crops in Europe and a smaller field pea harvest in Canada than last year are allowing markets to show some independence from major feed ingredients. This reflects an expectation a larger proportion of peas will end up in human consumption than feed markets in the coming year than last season.
Soybean and meal markets ended the week under pressure on account of expectations the USDA will boost the prospective size of this year's harvest in its September crop report.
After the close, the ProFarmer crop tour participants pegged the U.S. soybean crop at 3.023 billion bushels, with yields averaging 40.9 bushels per acre, versus the August USDA report numbers of 2.928 billion bushels and a 39.6 yield.
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