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Canaryseed Plantings in Downtrend
VANCOUVER - Dec 8/05 - SNS -- Canadian canaryseed production is trending lower as growers look for prices to show signs they are rebounding.
Many are patient, however, not expecting any significant market recovery for a couple of years. Combined with lackluster price performance this season, this should contribute to a further relaxation in seeded area in 2006 from 475,000 to 447,000 acres.
A return to average yields would see production drop from 229,200 to 173,000 MT in 2006. Even so, Canada could have nearly two year's worth of canaryseed on hand in 2006-07.
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