Peas Hold Steady on Demand Hopes
PANAMA - Aug 21/20 - SNS -- International field pea markets were relatively steady on the week, with spot and new crop markets virtually identical in all net exporting countries.
This year's harvest made relatively good progress, with the week starting with around a quarter of the Canadian crop now in the bin and 45% of the U.S. crop. This suggests almost 500,000 metric tons (MT) of new crop peas were available in the United States along with 950,000 MT in western Canada.
Markets had been initially concerned about the pace of the harvest in Canada because of a slower start to seeding, but hot growing conditions accelerated crop development. On the other hand, those conditions have also raised doubts about the yield potential in parts of the growing area.
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