Bird Flu, Rising Stocks Worry Soy Traders

CHATHAM - Mar 10/06 - SNS -- Soybean markets were pressured lower by a forecast increase in season ending stocks and further threats of bird flu, notes Mike Bakker, Policy Analyst, Ontario Soybean Growers.

Local cash price drops were limited by a declining Canadian dollar and higher than expected exports. Cash prices for Chatham, London and Hensall for March 9, 2006 were: CDN $6.20 per bushel, $6.19 and $6.20, all down 7-9 cents from the previous week.

"Further spread of bird flu into Africa was seen as a large concern for the World Health Organization Director. In addition, bird flu has been reported in a swan in Norway and killed another person in Indonesia," Bakker said.

"There were also reports of the spread of bird flu to other mammals as three cats and a marten have died of bird flu as reported in Germany. Bird flu has yet to reach the US, but US broiler operations have placed 1% fewer chick orders for meat production last week, with a 2% decline in the previous week and a 1% decline three weeks ago."

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