Pea Markets Focus on Stocks
VANCOUVER - Jun 11/10 - SNS -- International field pea markets continue to be dominated by large stocks in Canada and prospects for a bigger crop in France, where an improvement in government subsidies has encouraged expanded area.
This has distracted attention from slower than normal progress seeding this year's crop in Canada. Judging from the rate of progress for planting all crops, it is unlikely the week started with more than 80% of the Canadian crop planted.
Given that Canadian farmers "intended" to plant more peas than markets thought necessary, a weather induced reduction in total area is probably viewed as helpful by some market participants.
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