Mustard Position Spreads Narrow
PANAMA - Jun 3/22 - SNS -- Spot mustard seed markets continued to ease during the past week as markets become more focussed on new crop shipping positions.
One impact is spreads between spot and new crop values continue to decline for yellow mustard, though they held steady over the past week for brown and oriental.
Grower participation in markets remains limited, reflecting sharply reduced on farm inventories. Similarly, processors and exporters are not interesting in accumulating old crop inventories beyond what is needed to meet short term shipping commitments.
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