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Markets See Fundamental Shortage
VANCOUVER - Oct 12/07 - SNS -- Dry edible bean markets were unaffected by the USDA's modest increase in the forecast size of this year's crop.
Markets remain convinced there will be a fundamental shortage of edible beans across the 2007-08 marketing year.
North America's spot market index for dry edible beans finished the week at 1120, up 10 points from the previous week and compared to just 808 at this time last year. Markets are 109 points shy of the record, which was set at 1219 in June of 1990.
The grower index finished 10 points higher at 1011, versus 712 at this time last year. The grower share of the weighted average dealer price for beans now stands at 80.7%, unchanged from last week and up 1.8 points from this time last year.
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