Harvest Easing in Birdseeds
PANAMA - Sep 18/16 - SNS -- North American bitrdseed ingredient markets maintained their easier tone through the past week against improving availability of new crop product.
This saw both grower and inter-dealer markets for white proso millet seed close lower omn the week. Oil type sunflower was easier in sympathy with oilseeds.
"Nearby sunflower prices have backed off as farmers continue to be very active sellers at the crush plants ahead of harvest," noted the U.S. based National Sunflower Association (NSA). It added that the sunflower harvest should start soon as many acres have already been desiccated and farmers are waiting for drier weather.
"For the most part sunflower prices are following CBoT soyoil values. Soyoil prices slid after Mondays bearish USDA report, which raised soybean yield estimates to a record 50.6 bushels per acre, the highest in 10 years, according to some estimates. The USDA estimate of production and yields were more than even the most bearish trade guess.
"In a separate report, Farm Service Agency data suggested soybean acres could go even higher than previously estimated adding more momentum to the downward price spiral," the NSA said.
"On the positive side, talk that a European Union court overruled the ban of Argentine soyoil for biofuel use may help US soyoil prices. This could reduce the amount of soyoil shipped to the US from Argentina thus finding a home for more domestic soyoil"
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