Spot, New Crop Mustard Converge
PANAMA - Jul 26/24 - SNS -- Spot mustard seed values largely collapsed into new crop trading levels during the past week as spot demand declined in anticipation of the coming harvest.
The largest declines were registered in oriental and brown, both of which fell 14% from last year for the upper end of the current bid range, while farmers saw declines up to 10% for No 1 grade yellow delivered processing plants.
With the drop in average grower ids, prices available to farmers for yellow mustard seed are now at decile seven, while oriental is at decile six and brown is only a decile four. For brown, it means that prices have been higher 60% of the time since 2007, compared to 30% for yellow.
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