Higher Average Mustard Bids Seen
WINNIPEG - Oct 25/15 - SNS -- In its latest monthly review of Canadian mustard seed Agriculture Canada's market analysis branch in Winnipeg updated forecasts for the 2015-16 marketing year.
It reports mustard seed production this year will total 109,000 MT from 326,000 acres, compared to 198,000 MT from 499,000 acres the previous marketing year.
Agriculture Canada forecasts exports will reach 120,000 MT in 2015-16, compared to 126,000 MT last season. Domestic use is forecast at 19,000 MT in the coming marketing year, versus 48,000 last season.
Season ending stocks are forecast to finish the 2015-16 marketing year at 5,000 MT, versus 35,000 last season and 10,000 MT the previous season.
Agriculture Canada estimates grower bids averaged $700 MT for all classes of Mustard last season and predicts they will range between $835 and $865 MT in 2015-16.
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