STAT Communications Ag Market News

Quiet Time As Peas Await Harvest

PANAMA - Aug 8/20 - SNS -- Field pea markets experienced a generally quiet week, with increasing availability of new crop product in the United States causing spot and new crop prices to converge.

Available data confirmed that Canada ended its 2019-20 marketing year virtually sold out of peas, with residual stocks closing the season around 200,000 metric tons (MT).

For the second year in a row the stocks to use ratio was under 10%, which is generally considered to a be sold out state. By the end of the marketing year, farmers had delivered 84% of all peas available on their farms to Canada's bulk handling system, compared to 83% by the end of 2018-19.

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