Ag Canada Expects Modest Sunseed Decline

WINNIPEG - Jan 26/16 - SNS -- In its latest monthly review of Canadian sunflower seed Agriculture Canada's market analysis branch in Winnipeg released its first forecast for the 2016-17 marketing year. It is important to recall that Agriculture Canada forecasts are not based on objective surveys should be considered unofficial.

It predicts sunflower seed production this year will total 70,000 MT from 40,000 hectares, compared to 73,000 MT from 41,000 hectares last year.

Agriculture Canada forecasts exports will reach 45,000 MT in 2016-17, compared to an estimated 35,000 MT this season. Domestic use is forecast at 45,000 MT in the coming marketing year, versus 45,000 this season.

Season ending stocks are forecast to finish the 2015-16 marketing year at 30,000 MT, versus 10,000 last season. Agriculture Canada thinks the coming marketing year could finish with 40,000 MT of sunflower on hand.

Agriculture Canada expects the average grower bid for all classes of sunflower to range between $540 and $570 MT in 2015-16. It thinks the season average bid will range between $570 and $600 MT in 2016-17, "with lower oil type prices, but higher confectionary type prices in Canada."