Mustard Unchanged To Firmer On Data
PANAMA - Jul 3/20 - SNS -- Mustard seed markets finished the week unchanged to firmer in limited trading activity.
Seeded area estimates for Canada and the United States point to a significant drop in total area, with Canadian farmers reducing seeded area from 399,000 to 256,500 acres, while it was unchanged in the United States at 98,000.
Markets were surprised by the fact total area in Canada was significantly lower than the April intentions of 394,500 acres. Over the years, the intended area has averaged 7% lower than the final seeded area, while the June acreage report has only average 1% higher. One of the bigger differences was in 2009, when actual plantings were 9% higher than reported in June, rising from 480,000 to 525,000 acres
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