Minor Changes to New Crop Outlook
VANCOUVER - Mar 7/08 - SNS -- North American field pea markets maintained their firm tone during the past week, with Canadian green peas advancing on tightening stocks and yellow peas supported by ongoing demand.
Markets are worried by the status of developing rabi season crops in India. The country's northern states continue to receive below normal precipitation, with the result soil moisture reserves are declining.
The U.S. National Centres for Environmental Prediction expect rainfall to be less than 25% of normal through the middle of March in the northwestern two-thirds of India. However, there may be pockets of intense rainfall, which could cause localized flooding.
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