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U.S. Trade Withdraws From Market
VANCOUVER - Sep 21/07 - SNS -- North American dry edible beans finished the week with few processors giving quotes to end users or officially bidding for product from growers.
As a result, virtually all classes of beans posted nominally stronger finishes on the week, with no certainty that end users would be able to secure product from processors without significantly increasing bids.
North America’s spot market index for dry edible beans finished the week at 1060, up 11 points from the previous week and compared to just 774 at this time last year. The grower index finished three points higher at 926, versus 681 at this time last year. The grower share of the weighted average dealer price for beans now stands at 78.2%, versus 78.8% last week and down 0.6 points from this time last year.
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