Peas Area Set to Decline
PANAMA - Apr 3/20 - SNS -- Interest in growing field peas in the United States has diminished slightly, judging from the USDA's seeding intentions estimates. Some market participants see it as a signal of the direction for plantings in Canada as well.
Growers in the United States intend to cut land in all classes of field peas from 1.1 million to almost 975,000 acres. Area in Canada could slip from 4.33 to 4.15 million acres. Land in greens expected to rise in response to higher average grower bids in both spot and new crop shipping positions than is the case for yellows.
A return to average yields would see production in the United States drop from 1.02 million to 767,000 metric tons (MT). Because residual stocks from the previous season remain relatively high, available supplies of peas in the U.S. may only slip 20,000 MT to a forecast 1.383 million.
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