Birdseeds Generally Quiet
PANAMA - Feb 24/20 - SNS -- Birdseed ingredient markets finished the week's trading on a generally quiet note, with processors in the United States somewhat concerned about preliminary USDA forecasts for a surge in corn and soybean area this year.
Commenting on the situation, the U.S. based National Sunflower Association (NSA) said, "USDA predicts 94 million acres of corn to be planted in 2020, 2 million more acres than predicted at last year's outlook and up 4.3 million acres from 2019. 2020 soybean acreage will take the majority of last year's 16 million prevented plant acres.
"Around 85 million acres of soybeans are forecasted to be planted this year, up nearly 9 million acres from last year. Both estimates were higher than industry guesses."