STAT Communications Ag Market News

Millet Collapses, Canaryseed Steady

PANAMA - Jul 9/21 - SNS -- Birdseed ingredient markets posted a mixed finish on the week, with millet posting steep declines over reduced fears a significant yield losses in parts of the growing area.

Part of the crop is grown outside of areas most affected by current drought conditions, resulting in a more optimistic yield outlook than would otherwise be the case.

If yields are 90% of their recent five year average, output would increase from around 209,000 to just over 346,000 metric tons (MT). This saw prices collapse U.S. $10 per 100 pounds (cwt) on the week.

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