Feed Pea Remain Mixed

VANCOUVER - Dec 14/07 - SNS -- International feed pea markets managed a mixed finish in Europe, while North American markets remain generally inactive in the face of stiff trading levels for human consumption peas and forecasts by traders those markets will continue strengthening in the new year.

Local markets ended the week on a stronger note in Belgium and the Netherlands, while grower markets in France were also firmer on the week. Canadian markets were nominally higher, but revised domestic disappearance data from the Canadian Grain Commission indicates domestic feed usage has collapsed. Deliveries from primary elevators to domestic markets is down from 47,500 metric tons (MT) last year to just 15,800 MT during the first 19 weeks of the 2007-08 marketing year.

Meanwhile, the capacity for feed users to pay more for peas improved on the week in the face of seemingly relentless increase in corn and soybean meal values.

Alaron Trading's Tim Hannagan said, "Nothing has changed in the basic fundamental trend for corn. It continues to trail beans in their quest to buy back some of the 11 million acres they lost to corn planting this year. This leaves corn not wanting to lose too much of the 14 million acres they gained. . .

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