European Feed Peas Stronger

VANCOUVER - Aug 31/07 - SNS -- Feed pea markets in Europe posted another strong finish during the past week, with grower and inter-dealer markets across the continent advancing on worries about the size of this year's harvest and general improvements in world protein markets.

Grower markets for field beans and peas in the United Kingdom retain the momentum added by this summer's severe flooding across much of the growing area; while markets in France are helped by lower average yields and proportionately above average opening season demand for human consumption peas.

Looking at some factors affecting feed market valuations, the nearby delivery option for soybean meal futures finished the week's trading on the Chicago Board of Trade (CBOT) at U.S. $239.80 a short ton, versus $233.70 last week.

Spot Canadian field pea grower bids were unchanged at CDN $6.25 per bushel for No 2 grade whole green peas or roughly U.S. $197.60 short ton -- representing 82.4% of the value of spot soymeal, versus 84.7% last week.

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