Little Change in Birdseeds
PANAMA - Feb 19/17 - SNS -- Birdseed ingredient markets were little changed during relatively light trading during the past week.
Commenting on markets, the U.S. based National Sunflower Association said, "We are still in the price discovery process for 2017 crop insurance price elections. Currently, oil type sunflowers are at $18.40 and confections are $27.40 per cwt, both are higher than last year at this same time. In 2016, oil types were at $17.00 and confections were $26.80 per cwt.
"To follow sunflower price election trends, watch the 2017 CBoT December soyoil contract through February 28. Final price elections will be announced in early March. Traders continue to focus on South America crop prospects.
"Traders also got a reminder about the potential for a big increase in soybean acres this spring, when USDA released its 10-year baseline projections for agriculture this week. While the forecasts didn't include anything new about 2017 planting intentions, it reinforced the idea that soybean acres could increase significantly.
"USDA will update its statistical guesses at its annual Agricultural Outlook Forum next week. Traders will pay close attention to USDAs expectations for 2017 planted acres, supply & demand outlooks along with ending stocks figures. This will give the market some numbers to crunch ahead of the March reports."
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