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European Feed Peas Ease
VANCOUVER - Jul 27/09 - SNS -- European feed pea markets ased during the past week as markets complete the transition to a new crop trading basis.
Residual supplies of peas from last year's harvest are no longer influencing markets beyond their impact as adding to the available supply of product during the 2009-10 marketing year.
Looking at some factors affecting feed market valuations, the nearby delivery option for soybean meal futures finished the week's trading on the Chicago Board of Trade (CBOT) at U.S. $323.20 a short ton, versus $317.50 last week.
Spot Canadian field pea grower bids were 50 cents lower at CDN $7.75 per bushel for No 2 grade whole green peas or roughly U.S. $238.40 short ton - -- representing 73.8% of the value of spot soymeal, versus 77.6% last week.
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