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Sharp Drop in Mustard Output Expected
VANCOUVER - Jul 9/10 - SNS -- In its latest monthly review of Canadian mustard seed Agriculture Canada's market analysis branch in Winnipeg reports seeded area totals 509,000 acres this year, compared to 524,000 acres last year.
This has the potential for production to total 153,000 MT, versus 208,000 last year. Agriculture Canada pegs exports for 2009-10 at 115,000 MT; and is forecasting exports will reach 125,000 in 2010-11. Domestic use is forecast at 22,000 MT this season and at 23,000 for the coming marketing year.
Season ending stocks are forecast to finish the 2009-10 season at 115,000 MT; while they could finish the coming marketing year at 120,000 MT, compared to last month's 122,000 MT forecast.
Agriculture Canada estimates grower bids will average between $510 and $550 MT in 2009-10; and between $450 and $490 MT in 2010-11.
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