U.S. Edible Beans Surge
VANCOUVER - Mar 21/08 - SNS -- North American dry edible bean markets finished the week on a strong note after the latest USDA PL-480 food aid tender. Edible beans accounted for 61.7% of the pulses sought for May shipment from origin, with the USDA seeking offers of 5,460 metric tons (MT) of navy beans.
The news helped the U.S. spot market index for dry edible bean finished the week at 1302, up 70 points from the previous week and compared to 981 at this time last year.
The grower index finished up 10 points at 1152, about 90 points below its record high, but up from 868 at this time last year. The grower share of the weighted average dealer price for beans now stands at 79.1%, down 3.8 points from last week and down 0.4 points from this time last year.
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