Harvest Selling Pressure in Birdseeds
PANAMA - Sep 10/17 - SNS -- Birdseed ingredient markets finished the week's trading on a mostly easier note in the face of harvest selling pressure in both Canada and the United States.
Canada's canaryseed harvest started the week with 16% of the crop in the bin, compared to 9% at the beginning of September last year and the recent average of 7.6%.
If Statistics Canada's yield and seeded area forecasts are accurate, this represents roughly 20,000 metric tons (MT) of new crop canaryseed. The carry over from the previous marketing year is thought to total at least 10,000 MT, giving markets around 30,000 MT of product or roughly enough product to cover 10 weeks of export demand.