Peas Mixed Ahead of Acreage Reports

PANAMA - Jun 26/20 - SNS -- International field pea markets were unchanged to slightly easier as spot and new crop prices continue to converge.

Seeding of this year's crops are complete in the northern hemisphere, but with almost a third of the crop behind normal development in Canada there are modest concerns about the quantity of product which will be available for movement in the first four to six weeks of the coming marketing year.

Markets are also keen to see the results of the first seeded area estimates for both Canada and the United States. Canadian growers intended to plant 4.28 million acres of peas this year, down slightly from the 4.33 million sown in 2019. Area in the United States was initially intended to be reduced from 1.106 million to almost 975,000 acres.