Canaryseed Fundamentals In Doubt
PANAMA - Jan 11/19 - SNS -- Birdseed ingredient markets in North American maintained their firm tone through the past week, helped by continued advances in grower and inter-dealer markets for white proso millet in the United States.
Markets established a new season high during the week, with values now sitting at decile eight, which means they were lower 80% of the time since 2007. Though higher less than 20% of the time, there is no reason to believe the current upward trend will not be sustained over the short term.
Canadian canaryseed was little changed on the week in both spot and new crop shipping positions. Prices offered to Canadian farmers closed at U.S. $391 per metric ton for farmers dressed quality delivered to processing plants in Saskatchewan, while new crop bids finished the week at $341 MT.