AgCanada Expects Peas to Sell Out
WINNIPEG - Nov 23/15 - SNS -- In its latest monthly review of Canadian field peas Agriculture Canada's market analysis branch in Winnipeg updated forecasts for the 2015-16 marketing year.
It reports pea production this year will total 3.156 million MT from 3.7 million acres, compared to 3.81 million MT from 3.985 million acres the previous marketing year.
Agriculture Canada forecasts exports will reach 2.9 million MT in 2015-16, compared to 3.094 million MT last season. Domestic use is forecast at 615,000 MT in the coming marketing year, versus 647,000 last season.
Season ending stocks are forecast to finish the 2015-16 marketing year at 100,000 MT, versus 429,000 last season and 329,000 MT the previous season.
Agriculture Canada estimates grower bids averaged $260 MT for all classes of peas last season and predicts they will range between $295 and $325 MT in 2015-16. For the first time since 2006-07, grower bids for green peas are maintaining a discount of CDN $20 MT below yellow peas. Last season, farmers received a $30 MT premium for green peas.
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