Mixed Week For European Feed Peas

VANCOUVER - Jan 25/08 - SNS -- Field and feed pea markets in Europe finished weekly trade on a mixed note, with values on the Continent easing, while field pea and bean markets in the United Kingdom continue to firm against tight stocks.

Inter-dealer markets in Belgium and Holland, along with grower bids in France were down on the week. Prices seem to be strongly linked with the ebb and flow of human consumption demand, with interest from the Indian subcontinent and Middle Eastern destinations appearing somewhat slower.

Base feed ingredient markets experienced a wild week, affected by underlying turmoil on stock markets. With primary agriculture commodities now strongly linked to energy markets, worries about recession radiating out from the United States were reflected in energy markets and, consequently, agricultural.

Alaron Trading Corporation's Tim Hannagan amplified this idea, saying "as long as corn and beans planting season is 3 to 4 months away, unless demand side news arises the outside markets will continue to be a major influence on our daily direction.

"Long term fundamentals remain bullish but near term risk remains if next week brings month end profit taking on crude oil, metals and such pulling feed grains with it. Index fund psychology is to continue to take profits on front month old crop futures on rallies and reload long on further out new crop futures such as December corn."

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