Canaryseed Retreat Flushes Bears

VANCOUVER - Jun 25/10 - SNS -- Updated seeded and intended acreage numbers for Canadian canaryseed surprised birdseed ingredient markets.

Many market participants did not expect farmers to back down from their intention to plant over a half million acres this year, even though markets responded negatively to the March intentions, with spot and new crop grower bids dropping through May.

Statistics Canada's survey of farmers between May 25 and June 3 found they intended to plant 435,000 acres of canaryseed this year.

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