Birdseed Markets Expect Data Revisions
PANAMA - Jul 12/19 - SNS -- Few changes were seen in birdseed ingredient markets during the past week, with markets watching crop development in both Canada and the United States.
Conditions in Saskatchewan are unusually variable, with some growers looking at better than average yields while other farmers expect average yields. However, recent rains have helped recharge soil moisture in many areas, generating cautious optimism about yield prospects for canaryseed.
Canada's seeded area estimates are questioned by all market participants. This numbers are clearly too low given the demand fundamentals. At the official seeded area levels for last year and this year, Canada will have significant negative residual stocks.
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