Higher Average Mustard Prices
WINNIPEG - Feb 20/16 - SNS -- In its latest monthly review of Canadian mustard seed Agriculture Canada's market analysis branch in Winnipeg released its second forecast for the 2016-17 marketing year and raised projected average prices paid to farmers.
It predicts mustard seed production this year will total 155,000 MT from 165,000 hectares, compared to 123,000 MT from 140,000 hectares last year. It is important to recall that Agriculture Canada forecasts are not based on objective surveys should be considered unofficial.
Agriculture Canada forecasts exports will reach 120,000 MT in 2016-17, compared to an estimated 120,000 MT this season. Domestic use is forecast at 30,000 MT in the coming marketing year, versus 34,000 this season.
Season ending stocks are forecast to finish the 2015-16 marketing year at 5,000 MT, versus 35,000 last season. Agriculture Canada thinks the coming marketing year could finish with 10,000 MT of mustard seed on hand.
Agriculture Canada expects the average grower bid for all classes of mustard to range between $1020 and $1050 MT in 2015-16. It thinks the season average bid will range between $870 and $900 MT in 2016-17.
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