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Beans Firm in Quiet Trade
VANCOUVER - Jul 21/06 - SNS -- North American dry edible bean markets experienced a relatively quiet week. but managed a firmer close as processors and other market participants lifted asking prices.
Some speculative pricing is creeping into markets based on the hot and dry conditions reported in several parts of the growing area. This saw the spot market index for U.S. beans advance nine points on the week to close 767, helped by strength in pinto beans.
While global warming is not officially recognized as a political concern in North America, a growing number of bean producers and processors are wondering what else can explain what seem like hotter summers and shorter winters. Especially when you start seeing the light above fields shimmer and bend in the heat.
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