European Feed Peas Firmer

VANCOUVER - Mar 16/07 - SNS -- European feed pea markets finished the week on a stronger note in both spot and new crop shipping positions in both U.S. and local currency terms.

The most significant advances were for new crop shipping positions, with Belgian markets gaining two Euros per metric ton (MT) on the week, while traders in the Netherlands report a 10 Euro advance. France's grower markets were also moderately firmer on the week.

Crops intended for use in the bio-fuel sector are sucking land from other crops in North America and Europe. While grower bids in Canada and the United States have risen to levels which make it easier to sustain field pea area, the same may not be true of Europe, where markets are not moving as swiftly.

Bids in France had been higher all season because of a shorter crop and generally stronger feed ingredient markets, but recent values have only returned to those which prevailed in November; whereas Canadian growers are seeing bids for whole yellow peas return to levels not since the 2002-03 season and whole green pea bids are levels not seen since May of 2004.

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