Firmer Spot Mustard Markets
PANAMA - Mar 19/21 - SNS -- Mustard seed markets were moderately firmer during the past week in spot shipping positions, reflecting tight available supplies and continued reluctance by growers to move their remaining inventories.
This saw spot brown and yellow bids to Canadian growers advance 3% and 2% respectively on the week. Bids for No 1 Canada yellow are now at their highest levels since May of 2016, while brown now matches bid levels seen in April of 2018.
Interestingly, spreads between spot and new crop shipping positions widened in favor of spot markets, with the best bids reported during the week being CDN two cents per pound higher for yellow and one cent per pounds higher for farmers dressed brown delivered western Canadian processing plants.
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