Birdseeds Maintain Mixed Tone
VANCOUVER - Aug 22/14 - SNS -- North American birdseed ingredient markets posted a mixed performance during the past week.
White proso millet and sunflower seed remain strongly influenced by attitudes toward grains and oilseeds, which finished with week over week losses.
Commenting on market conditions, the U.S,. based National Sunflower Associayion kyed, "Nearby and new crop sunflower prices continue to be influenced by weak world vegetable oil prices. Malaysian palm oil futures slid to near a five-year low following losses in overseas soy markets. The lower palm oil futures have acted like a lead weight around the neck of CBoT soyoil values dragging them further toward new market lows this week.
"Growing conditions throughout the Midwest continue to be very positive for oilseed development and fears of an El Nino are fading in Southeast Asia. The lack of the later event will contain the upside in palm oil prices."
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