Welbeck's first season in United colours earned him a place at Euro 2012 with England and the youngster did not disgrace himself in the national jersey.
On the back of his displays for club and country, Welbeck has entered into talks with regard to a new deal on improved terms.
It has been claimed the club and player are wide apart in terms of an agreement and although Ferguson did not go into details, he admitted talks are continuing.
"We are negotiating with Danny's brothers," Ferguson said. "They represent him. It's difficult to say where we are with that at this moment in time."
Ferguson feels Welbeck can blossom into a key figure for United, who he claims have nurtured the forward through his teenage years.
"We've fostered him," Ferguson said. "He's always had growth spurts and things like that, so we fostered him right that period when he was developing. I don't think he's got his full body yet. I think there's a lot of growth in him yet. I don't think he'll get taller, he's 6ft 3ins now."
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