Peas Show Near Term Strength
PANAMA - Apr 19/24 - SNS -- Internsational field pea markets finished the week's trading on a firmer note against falling stocks on farms in major net exporting nations.
The resulted in a moderate widening of spreads between nominal spot and new crop export asking prices because of optimism of improved global production as farmers respond to better than expected demand during the current marketing campaign.
Projected increases in seeded area in countries such as Russia, Canada and the United States are expected to offset any declines in other parts of the world, with the result global dry field pea area could advance from 6.7 to 6.55 million hectares.
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