STAT Communications Ag Market News

Little Change in Mustard Forecast

PANAMA - Apr 16/16 - SNS -- In its latest monthly review of Canadian mustard seed Agriculture Canada's market analysis branch in Winnipeg released its fourth forecast for the 2016-17 marketing year.

Agriculture Canada left its forecasts unchanged, waiting for Statistics Canada to release this year's seeding intentions on April 21.

For its part, Agriculture Canada currently predicts mustard seed production this year will total 155,000 MT from 165,000 hectares, compared to 123,000 MT from 140,000 hectares last year.

Agriculture Canada forecasts exports will reach 120,000 MT in 2016-17, compared to an estimated 120,000 MT this season. Domestic use is forecast at 30,000 MT in the coming marketing year, versus 34,000 this season.

Season ending stocks are forecast to finish the 2015-16 marketing year at 5,000 MT, versus 35,000 last season. Agriculture Canada thinks the coming marketing year could finish with 10,000 MT of mustard seed on hand.

Agriculture Canada expects the average grower bid for all classes of mustard to range between $1020 and $1050 MT in 2015-16. It thinks the season average bid will range between $870 and $900 MT in 2016-17.

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