STAT Communications Ag Market News

U.S. Peas Ease on Crop Report

PANAMA - Sep 11/20 - SNS -- Improved new crop availability resulted in a mixed week in field pea markets during the past, with values in the United States dropping while those in Canada held firm in the face of relatively strong export movement.

Markets in the United States were unsettled by a bigger than expected USDA production forecast. This year's crop was initially expected to reach 755,000 metric tons (MT) from 1.1 million acres. During the week, the USDA pegged output at almost 844,000 MT from one million acres.

At the same time, provincial yield estimates suggest production in Canada could be closer to 4.82 million MT than the 5.0 forecast by Statistics Canada last month, This is drawing attention to that country's September 14 national crop forecast, with markets keen to see if harvest based provincial estimates are borne out by other objective measures.

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