STAT Communications Ag Market News

Pea Uneasy Over Seeding Intentions

PANAMA - Apr 28/18 - SNS -- International field pea markets finished the week's trading on an uneasy note after being surprised by a smaller than expected reduction in planned field pea area in Canada.

Farmers were expected to say they would reduced seedings nearly one million acres. Instead, they say they will only pull 235,000 acres from the crop, with intended area coming in at 3.89 million acres.

Statistics Canada surveyed farmers during the last half of March. Heading into the survey period, farmers saw spot demand for peas improve because of unexpected sales to China's compound feed industry. On the other hand, India's decision to restrict yellow pea imports to 100,000 MT through the end of June had no impact on seeding intentions because it came after the survey was completed.

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