Ag Canada Reduces Mustard Forecast

VANCOUVER - Jun 2/06 - SNS -- In its latest monthly review of Canadian mustard seed Agriculture Canada's market analysis branch in Winnipeg predicted production in Canada in 2006 will fall from 201,000 metric tons (MT) to 140,000, down 5,000 MT from last month.

Seeded area is forecast to decline 21.7% to 410,000 acres; while harvested area is forecast at 395,000 acres.

Agriculture Canada expects this season's exports to finish around 130,000 MT, unchanged from last month's forecast. It is forecasting exports in 2006-07 at 140,000 MT, unchanged from last month.

This season's domestic use is estimated at 86,000 MT, up 5,000 MT from last month; while usage in 2006-07 is forecast at 81,000 MT, up 5,000 MT from last month.

Season ending stocks are forecast at 180,000 MT, down 5,000 from last month; while stocks are expected to total 100,000 MT by the end of the 2006-07 marketing year, up 5,000 MT from last month.

Agriculture Canada forecast average grower bids will range between from between CDN $250 and $280 MT this season, compared to last month's forecast price range of between $255 and $285 MT this season. For the coming 2006-07 marketing year, it expects prices to range between $275 and $305 MT, unchanged from last month.

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