Demand Supports Peas

VANCOUVER - Aug 4/12 - SNS -- Field pea markets continued to strengthen through the past week against short covering by exporters and occasional surges in demand from the Indian subcontinent.

Export movement to that region has been relatively quiet because of limited supplies of 2011 crop peas.

However, with the pace of the U.S. harvest increasing and Canada's getting underway, the supply situation is being relieved and export trading activity is increasing.

Over a third of North Dakota's field pea crop was in the bin at the start of the week, with only 16% not considered mature. This year's harvest is advancing at a much faster pace than normal. Normally, only 8% of the state's pea crop is normally harvested by the beginning of August.

Nearly half of Montana's field pea crop was in the bin as the week got underway, compared to 29% the previous week and the recent five-year average of 17% harvested by the end of July.

Limited field pea harvest activity is being reported in Idaho. As the week got underway, roughly 2% of the state's pea crop had been harvested, compared to the recent five-year average of 10% in the bin by the end of July.

A slower than normal harvest is also being reported in Washington States, with just 15% of this year's pea crop in the bin at the start of the week, compared to a recent average of 30%.