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Argument for Smaller Edible Bean Area Posed
VANCOUVER - Jan 26/05 - SNS -- Some dry edible bean market participants in North America are working to extend the current bullish market situation into the coming marketing year, arguing there is a possibility seeded area in Canada and the United States will decline instead of increase.
In a recent comment on the crop, Louis Dreyfus Canada Ltd. directly made this argument: "Now, with talk that acres could drop in 2005 from 2004 levels simply due to a lack of seed, buyers might start to get scared.
"Demand for dry beans is not falling, and alternative supply sources are limited. Any type of a weather scare heading into the growing season could cause some aggressive covering of longer-term requirements that anyone holding dry bean stocks will want to be positioned to sell into."
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