Pea Residuals Looking Clearer
PANAMA - Jul 26/19 - SNS -- Markets are getting a firmer idea about prospective field pea ending stocks in Canada, but with the country expected to end the season with a stocks to use ratio that is considered sold out, prices for immediate shipment remain relatively firm.
A major difficulty in assessing demand is limited knowledge about movement through the new generation of pulse fractionation plants. Processors in North America may already have the potential to consume a minimum of 900,000 metric tons (MT) of peas annually. Significantly, capacity continues to increase.
Doubts also remain about ending stocks on farms. Some market participants are certain that in years when inferred domestic demand bulges in Canada, it is because farmers did not report all the peas they had on their farms.
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