Mixed Week in European Feed Peas

VANCOUVER - May 16/08 - SNS -- European feed pea markets managed a mixed finish during the past week, with values in Belgium mainly unchanged, while markets in the Netherlands were softer.

Market attention in Europe is switching to new crop, with local harvests quickly approaching. Even though production will be down considerably from last year, prices are adjusting to levels which make them more competitive with other livestock feed ingredients.

Looking at major feed ingredient markets, Alaron Trading Corporation's Tim Hannagan noted that while Asian feed ingredient demand picked up according to the latest USDA export sales report, "it is neutral for demand after five consecutive bearish weeks. There is some talk of larger Asian sales in June but most of the market pricing remains weather and its effect on the crop through August 5th.

"We are in that gray area now moving out of weather's impact on planting to weather's impact on early emergence. Traders are not worried about early emerging corn weather as much, as soil moisture is at a surplus to insure Midwest crops sprout with energy. Weather's impact on the growing season begins June 10th through August 5th; that period will find weather reports critical."

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