Little Change in Feed Peas

VANCOUVER- Dec 15/06 - SNS -- European fed pea markets finished the week little changed in local currency terms, but down in U.S. dollar terms because the Euro closed below week earlier levels.

International feed ingredient markets remain tense because of tightening stocks of corn in the United States and a significant drop in residual supplies of coarse grains on world markets.

The USDA expects the 2006-07 marketing year to finish with 124,14 million metric tons (MT) of coarse grains on hand, down 26% from 2005-06 and 30.6% from what remained after the close of the 2004-05 marketing year.

While not driving demand into feed peas, these factors are helping support the price for the commodity, something which could become an important factor if there is any easing in human consumption demand or a surge in production of offgrade peas in 2007.

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