Canadian Dollar Lifts Peas Higher

VANCOUVER - Nov 9/07 - SNS -- Canadian inter-dealer markets for field peas continue to push into new record pricing territory during the past week as processors and exporters strove to maintain margins in the face of continued Canadian dollar strength.

In grower markets, official bids for whole green peas were unchanged on the week, ranging up to CDN $340 per metric ton (MT) for farmers dressed product delivered western Canadian processing plants, $18.37 off the record paid in December and January of the 2001-02 marketing year.

The Canadian dollar was unusually volatile during the week, peaking at just over U.S. $1.10 before profit taking pushed it closer to $1.06 by week's end. Fear about the impact the dollar will have on Canadian exports to the United States contributed to the selling and the return of an inverse trading pattern.

Subscribers can read the full text of the article by Clicking here