Birdseeds Remain Firm
PANAMA - Oct 5/18 - SNS -- Birdseed ingredient markets finished the week's trading with a firmer undertone, helped by reduced harvest selling pressure in canaryseed and white proso millet.
Farmers in Canada made some progress harvesting this year's canaryseed crop despite another week of cool and wet conditions. As of October 1, half the crop is in the bin, compared to 93% last year and the recent five average of 55% complete by the end of September.
Doubts remain about the actual seeded area in Canada, but crop reporters are coming up with similar yield estimates to Statistics Canada. The latest updates suggest a 112,000 metric ton (MT) crop, just 1,000 tons bigger than Statistics Canada forecast. However, markets remain unconvinced seeded area was just 212,000 acres, expecting that to be contradicted by crop insurance data.