Mustard Reacts to Supply Fears
PANAMA - Jul 2/21 - SNS -- North American mustard seed markets ended the week's trading on a strong note, influenced by continued worries over crop production levels in Canada and a smaller than expected increase in plantings.
Seeded area in Canada ended up at and estimated 305,500 acres, up from 256,400 last year but well below the farmers intentions to plant 358,100. At the same time area in the United Stats dropped from 97,000 to an estimated 88,000 acres.
Average yields would see Canadian output increase from 98,800 to 112,000 metric tons. But with the steep reduction in residual stocks, available supplies will likely sink from 159,80 to 126,000 MT. In the United States, average yields would see output slide from 37,090 to 29,600 MT for an overall reduction in available supplies in the region.
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