STAT Communications Ag Market News

Harvest Pressure In Peas

PANAMA - Aug 10/18 - SNS -- Good progress with the North American field pea harvest combined with weakness in outside markets to see the complex close the week on an easier note.

While sentiments in markets for grains and oilseeds seem to change almost daily, the underlying bearish trend in some commodities is having an impact on the price at which peas remain a competitive ingredient for livestock feed manufacturers.

Long term sentiment is not being helped by the ideas that India may not significantly reduce land in desi type chickpeas during the coming rabi cropping season. While the government struggles to prevent cash markets from dropping below minimum support prices (MSP), active support for the scheme is clearly buoying grower sentiment in that country.

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