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Beans Little Changed in Holiday Trade
VANCOUVER - May 26/06 - SNS -- Dry edible bean markets were little changed under holiday shortened trading.
Many countries in South America, Europe and Asia were off Thursday and Friday, while some market participants in the United States will take Memorial Day off work on Monday.
Coming on the heels of the CICILS conference in India, the days off make it easier for buyers and sellers to avoid trying to create business. Buyers see the break as an opportunity to watch crops develop, while sellers are enjoying the break from relentless competition among competing suppliers.
This year's dry edible bean harvest is underway in Argentina and processors expect to have firmer production numbers for white alubia beans in two weeks. Crops are viewed as being in generally good condition, but the extent of disease and weather damage is still being assessed.
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