The conjugate momentum density, following as a conserved quantity with Noethers Theorem, from invariance under displacement of the field itself, i.e. $\Phi \rightarrow \Phi'=\Phi + \epsilon$, is given by $\pi=\frac{\partial L}{\partial ( \dot{\Phi})}$.
On the other hand the physical momentum density, following as a conserved quantity with Noethers Theorem, from invariance under translations, i.e. $\Phi(x) \rightarrow \Phi(x')=\Phi(x+\epsilon)$, is given by $\Pi = \frac{\partial L}{\partial ( \dot{\Phi})} \frac{\partial \Phi}{\partial x}$.
Does anyone know a enlightening interpretation of the conjugate momentum? Furthermore why do we, in quantum field theory, impose commutation relations with the conjugate momentum instead of the physical momentum?
(For brevity all possible indices are supressed)