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Peas Supported by Massive Exports
VANCOUVER - Sep 21/07 - SNS -- Massive opening season export movement to Canadian ports combined with increasingly reluctant grower selling to drive field pea values higher on the week.
The cause of Canadian processors and growers was helped by USDA PL-480 food aid tender activity in the United States. After buying 3,510 metric tons (MT) of yellow split peas for late October shipment on Thursday, the USDA requested offers for another 8,120 MT of split yellow and 2,860 MT of whole yellow peas for movement from origin in November.
This is helping keep commercial splitting capacity fully booked in the United States through December, contributing to demand for Canadian origin product. The strong Canadian dollar has turned from a negative to a bullish factor on world markets because of tight supplies elsewhere.
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