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European Feed Pea Markets Jump
WINNIPEG - Sep 1/06 - SNS -- International feed pea markets continued to firm in both Canadian track and European markets.
European markets were up significantly for feed peas in all major trading centers -- France, Belgium, Netherlands and the United Kingdom.
Even though soybean markets remain under pressure because of good crop prospects, international corn markets are looking at another year of record usage levels because of rapid expansion of the ethanol industry. Those attitudes are given added momentum by forecasts the USDA will lower this year's corn estimate on September 12.
Allendale, for instance, thinks the U.S. corn crop will be 10,887 million bushels, down 89 million bushels from last months USDA report; while it expects this year's soybean harvest to end up closer to 3,109 million bushels, up 181 million bushels from the August USDA estimate.
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