Unexpected Increase in Mustard Area
PANAMA - Jul 3/16 - SNS -- North American mustard seed production could jump 64% this year if seeded area estimates for Canada and the United States remain unchanged.
Statistics Canada surprised markets by pegging this year's seeded area at 525,000 acres, up from 345,000 last year; while the USDA said area in the United States jumped from 44,000 to 60,500 acres.
Planting seed was expected to be a limiting factor in Canada. But, the expansion reported by Statistics Canada forced market participants to muse that when prices are high farmers have an uncommon ability to find common seed.
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