Drought Worries Support Birdseeds
VANCOUVER - Apr 9/21 - SNS -- Birdseed ingredient markets maintained their firm tone through the past week, with worries about growing conditions in parts of the growing region having an influence on both spot and new crop values.
Spot markets for white proso millet in the United States posted significant gains during the week, with prices offered to farmers ranging up to 33 cents per pound for farmers dressed product delivered elevators and processing plants.
This puts solidly in decile nine territory. Since both 1988 and 2007, prices were higher less than 10% of the time. If drought conditions continue to worsen in the U.S. midwest further increases in spot values and a strong start to new crop pricing would be expected.
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