Birdseeds Influenced by Easing Field Crops

PANAMA - Jul 9/16 - SNS -- Birdseed ingredoent markets registered a mixed performance during the past week, with prices showing some weakness in sympathy with grains and oilseeds.

Favorable weather in the United States and excellent crop conditions in Canada have also eased any concerns markets might have about supply, prompting the U.S. based National Sunflower Association (NSA) to note that traders are liquidating long positions and "funds do not have a good reason to be long" agricultural futures contracts.

"The trade is debating over the extended US Midwest weather forecast. Most weather forecasts point to normal to above normal temperatures with mostly normal precipitation. A few are suggesting that after the middle of July, the US Midwest could turn hot and dry. Most climatologists think we will have normal summer weather because world weather has not yet changed to La Nina, which usually signals drought type conditions in the US Midwest," the NSA added.

"Fallout from Brexit also continues to rattle markets as evidenced by the recent price volatility on the CBoT and outside markets. Investors are still moving out of risky assets and putting their money into safe havens such as the US dollar and gold. Financial markets will sort themselves out but it may take some time to do so."

Canaryseed Exports Steady