Birdseeds Helped By Firmer Grains and Oilseeds
PANAMA - May 8/16 - SNS -- Birdseed ingredient markets finished the week's trading unchanged to firmer in sympathy with improving values for grains and oilseeds.
While white proso millet seed helped onto their previous week's gains; while Canadian canaryseed and confection sunflower were largely unchanged.
Oil-type sunflower markets rallied on the week in sympathy with oilseeds, noted the U.S. based National Sunflower Association.
"Old crop gained 35-40 cents and new crop added 30-45 cents. New crop NuSun cash prices are now at $17.40 at Enderlin and West Fargo with Goodland at $17.00. Crushers are still offering new crop Act of God (AOG) contracts for fall delivery as well.
"Something else to keep in mind is oil premiums that are paid on sunflower. Oil premiums are offered at the crush plants on oil content above 40% at a rate of 2% price premium for each 1% of oil above 40%. For example, a $17.40 contract with 45% oil content results in a 10% price premium which pushes gross return to $19.15 per cwt.
"This is an opportunity to lock in prices and diversify your crop risk this year," the NSA advised.
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