Birdseeds Unchanged to Easier

VANCOUVER - Jul 11/14 - SNS -- Birdseed ingredient markets registered a mixed performance during the past week.

Confection sunflower markets were nominally unchanged, while oil-type sunflower dropped in value in line with easier canola and soybean values.

Commenting on the situation, the U.S. based National Sunflower Associations said, "Market news has been bearish the past two weeks. Midwest weather remains conducive to row crops, and trade guesses for yields continue to rise with new crop price forecasts continuing to sink.

"The weather outlook remains favorable for crops in the next two to three week period. This is resulting in fund selling and reduces the chance of speculative buying by traders on the CBOT. The market is beginning to factor in a higher US 2014 supply that could be harvested early. This tied in with USDA finding additional supply of the 2013 crop on their June 1 stocks estimate has triggered long liquidation.

"CBOT soybean oil and palm oil values have also been under pressure this month. This has led to general weakness in the world vegetable oil market. The struggling oil market is affecting old and new crop sunflower prices. The majority of the US sunflower crop remains in the good to excellent categories. Crop development is slightly behind normal and some hot and dry weather would be beneficial to crop development in most growing areas."