STAT Communications Ag Market News

Mustard Getting Optimistic About NA Production

PANAMA - Jul 1/22 - SNS -- North American mustard seed markets maintained their firm tone in new crop shipping positions, though spot markets continue to underlying weakness as values between the two positions come together.

Markets were not overly surprised by the USDA's seeded area estimate for mustard in that country. An estimated 123,000 acres was planted this year, up from 103,000 last year. A return to average yields would lift output from almost 20,000 metric tons (MT) to 35,600, just below the 2020 harvest.

Statistics Canada will release its seeded estimate on July 5. Growers had intended to boost land in the crop 48% from 308,000 to 457,000 acres.

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