PANAMA - Oct 9/21 - SNS -- North American mustard seed markets continued to see record bid levels for this year's crop as processors and exporters try to cover their short term needs.
While yellow and oriental were unchanged on the week, prices offered farmers for brown advanced 7% to a record high CDN 76 cents per pound for farmers dressed product delivered western Canadian processing plants.
Values are being driven by apparent shortages against production contracts and the inability of some growers to meet deferred delivery sales obligations. Some contracts were available with act of god clauses, which reduces the risk for farmers but increases supply risk for processors and exporters.
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