Canary, Millet Leads Birdseeds Complex
PANAMA - May 14/21 - SNS -- North American birdseed ingredient markets registered a mixed performance during the past week, with canaryseed and millet advancing, while sunflower was pressured lower by weakness in grains and oilseeds.
Though values in Colorado were mostly unchanged on the week, there was a significant increase in white millet values in Nebraska in response to tightening stocks on spot markets.
Sunflower markets dropped sharply in response to outside markets and the first global USDA forecasts for the coming marketing year, which called for a massive increase in global output of all classes from 49.7 to 54.92 million metric tons (MT). Even so, residual stocks of sunflower are not expected to rise significantly, because of expectations of brisk export movement and recent reductions in carry over inventories.
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