Canaryseed Prices Seen Drifting Lower
PANAMA - Oct 2/16 - SNS -- In its latest monthly review of Canadian canaryseed Agriculture Canada's market analysis branch in Winnipeg predicts canaryseed production this year will total 130,000 MT from 105,000 hectares, compared to 149,000 MT from 132,000 hectares last year.
Agriculture Canada forecasts exports will reach 125,000 MT in 2016-17, compared to an estimated 146,000 MT last season. Domestic use is forecast at 5,000 MT in the coming marketing year, versus 8,000 last season.
Season ending stocks are forecast to finish the 2015-16 marketing year at 5,000 MT, versus 10,000 the previous marketing year. Agriculture Canada thinks the coming season could finish with 5,000 MT of canaryseed on hand.
Agriculture Canada said the average grower bid was $580 MT in 2015-16. It thinks the season average bid will range between $540 and $570 MT in 2016-17.
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