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Field Peas Continue Advance
VANCOUVER - Feb 16/07 - SNS -- North American field pea markets continued to strengthen during the past week in the face of steady export demand and increasingly reluctant grower participation in markets.
Bids for Canadian whole yellow and green peas finished the week ranging up to CDN $5.70 per bushel or roughly $210 per metric ton (MT) for farmers dressed product delivered western Canadian processing plants.
However, there were instances of companies paying $6 per bushel or around $220 MT for peas. This has raised hopes among some growers that they will see $7 peas before the end of the marketing year, resulting in a slow down in selling activity.
Markets generally do not believe they will reach $7 in 2006-07, though it is always conceivable select lots of high quality green peas could fetch those values.
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