STAT Communications Ag Market News

Pea Markets Uneasy Despite Positive Data

PANAMA - Sep 10/21 - SNS -- Field pea markets finished the week on an uneasy note because of higher than initially expected production estimates from the USDA and ending stocks in Canada.

The USDA revised seeded area upward 4% to 970,000 acres. Even so, the harvest is expected to be down 44% from last year at 551,000 metric tons (MT).

Canada's ending stock was pegged at 479,000 MT, more than double the 233,000 carried over from the 2019-20 marketing campaign. Commercial inventories jumped from 96,000 to 212,000 MT, while product on farms almost doubled from 137,000 to 267,000 MT.

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