Birdseeds Mixed on Week
PANAMA - Nov 9/18 - SNS -- Birdseed ingredient maintained their mixed tone through the past week, though with some underlying strength in millet and canaryseed.
Sunflower markets finished with an easier tone because of the influence of outside markets. The U.S. based National Sunflower Association (NSA) noted that the latest USDA production estimates for soybeans were deemed bearish by markets.
"USDA pegged soybean production at a record 4.6 billion bushels, down 90 million bushels, or about 2%, from the October forecast. However, domestic soybean ending stocks came in at 955 million bushels, up 70 million bushels from last month as USDA reduced soybean exports by 160 million bushels on lower sales forecasts to China."