Old Crop Premiums in Last Weeks
PANAMA - Jul 19/19 - SNS -- Field pea markets finished the week's trading on a relatively quiet note, with new crop discounted to old in both grower and export markets.
Once the harvest begins, old and new crop prices will come together because buyer's will not see the need to pay a premium for spot shipments of old crop peas.
Crop conditions in Canada have been steadily improving in recent weeks. Between July 1 and 18, the proportion rated in good to excellent condition advanced from 50% to 58%, while the proportion rated in poor to very poor condition dropped from 11% to just 3%.
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