Europe Pulses Gain Strength

VANCOUVER - Sep 14/07 - SNS -- Feed pea markets in Europe continued to gain strength during the past week against major advances in grower and dealer markets in the United Kingdom and rapidly tightening stocks in continental Europe.

At current values, field peas are finding it tough to compete with corn on a energy basis, though they are maintaining a reasonable parity with soybean meal. In some respects, this was reflected in the week six data from the Canadian Grain Commission (CGC).

It reports Canadian domestic field pea disappearance from primary and terminal elevators as 2,700 metric tons (MT) between September 2 and 8. The season to date total is 7,200 MT peas up 1,700 from 5,500 MT during the same six-week period last year. Feed pea markets are encouraged to see their product is still finding domestic buyers.

While corn markets are currently suffering from the weight of a record U.S. harvest and the uncertainty of unknown demand territory, markets do not believe corn can remain at current levels if is to sustain seeded area in 2008 at levels needed to cover traditional and bio-energy uses in 2008-09.

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