Seeding Intentions Do Not Hurt Peas
PANAMA - Apr 1/16 - SNS -- Field pea markets were unaffected by the USDA seeding intentions report, which says farmers in the United States intend to plant 24% more peas for a record 1.423 million acres.
A return to average yields would see production jump 37% to 1.135 million metric tons. This summer's carry-over will likely be larger than last year, with the result available supplies of peas will jump from just over 919,000 to 1.24 million MT.
Rising production in the United States will be matched by gains in Canada. Whether this results in stiffer competition for available demand between the two countries depends on several factors.
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