Market for Peas Still Tough Despite Plant-Based Meat
Plant-based meats have made headlines all year long. One of their main ingredients is pea protein isolate. What does their rise in popularity mean for the market for peas? So far, not too much says Chuck Penner with LeftField Commodity Research.
Penner…”Prices, especially for yellow peas, in Canada and in the U.S. Simply haven't responded. And I think in the U.S. they're even worse off. So there hasn't been a noticeable response or a bump from that Beyond Meat or Impossible Burgers yet for, for farmers, especially in the U.S. Canadian farmers have more export outlets then than American farmers. But it's a situation where the prices are tough going, especially for yellow peas.”
As for markets, Chicago March Wheat futures closed yesterday down $0.03 to $5.45 ¼.
March Corn closed down just $0.00 ½ to $3.86 ½.
Kansas City Hard Red Winter Wheat futures closed down $0.01 ½ to $4.60 ½.
Portland prices for soft white wheat of ordinary protein were a bit weaker yesterday ranging from $5.90 to $6.00.
Dark Northern Spring wheat prices for Dec Delivery were up $0.02 3/4 ranging from $6.71 ¼ to $7.16 ¼ for 14% protein.
Club Wheat of Ordinary Protein bids pretty much unchanged ranging from $6.00 to $7.40.
Live Cattle futures were down $0.50 to $125.62 1/2 on the February board. Jan Feeder Cattle were up $0.17 1/2 to $144.72 ½.
Class III milk was up $0.06 at $17.40.