Feed Peas Easier on Week

VANCOUVER - Sep 12/08 - SNS -- European feed pea markets finished the week on a generally easier note in local currency terms, with exporters in North America reporting little demand for their product outside limited volumes of domestic business.

Data from the Canadian Grain Commission (CGC) indicate direct sales of fed peas to livestock producers and compound feed manufacturers in western Canada are down from last year. Since the August 1 start of the current marketing year, primary and terminal elevators report selling 3,900 metric tons (MT) of peas directly to domestic users, compared to 7,200 MT last year.

Inter-dealer markets for feed peas were weaker in the Netherlands and Belgium during the week, along with grower bids in France, in both local and U.S. currency terms. Bids in the United Kingdom were unchanged in local currency terms, but up in U.S. dollar terms. Lower prices reflect improved availability of new crop merchandise and a more competitive environment for major feed ingredient markets.

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