Beans Get Relief in Argentina and USA

VANCOUVER - Apr 4/08 - SNS -- The world's dry edible bean markets were little changed in light trade during the past week, with markets getting good news from Argentina and less bullish news than feared from the United States.

International markets were also relieved by news of a one month halt to the farmers strike in Argentina. It had crippled export activity in the country, creating a backlog of between three and five weeks, affecting all export commodities, including dry edible beans.

The problem facing markets is that once the backlog is cleared and shipments start to return to normal, the strike threat will also return to markets. Import markets in Latin American were also delivered a curve during the past week, with dock workers in Brazil going on strike. Observers say dock strikes in Brazil are normally short lived because they are among the country's highest paid laborers.

Markets were unmoved by the USDA seeding intentions report, which showed that growers in the United States plan to reduce area less than expected.

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