Birdseeds Start 2011 on Firm Note
VANCOUVER - Jan 7/11 - SNS -- Birdseed ingredient markets finished the week's trading on a firm note, lead higher by Canadian canaryseed.
In the United States, white proso millet markets were unchanged on the week, while sunflower continues to follow major oilseeds.
Commenting on the current situation, the U.S. based National Sunflower Association said, "Near term oilseed price direction continues to focus on South American growing conditions. It is very dry in Argentina with little relief in sight causing market analysts to lower production estimates for soybeans and sunflower.
"Vegetable oil usage is expected to increase making stocks tighter in 2011. Old and new crop sunflower prices have followed the upward price spiral. New crop oil sunflower prices have gone up $2.40 since the beginning of December for fall harvest delivery. 2011 new crop confection sunflower prices are out also.
"The next big market mover will be USDA's annual crop report which is released next week. Traders are expecting a bullish tight ending stocks situation. Given current market forces the competition for 2011 acres will continue to be aggressive as most crops will be looking for an acreage expansion in the coming year."
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