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Weather Worries Support Beans
VANCOUVER - Jun 20/08 - SNS -- Dry edible bean markets maintained their firm tone throughout the past week against tight North American supplies, concerns over China's crop potential, and the shut down of Argentine exports.
Flooding in China is thought to have affected dry edible bean seeding progress and could expose the crop to greater than normal late season weather risks.
The U.S. spot market index for dry edible bean finished the week at 1389, up 24 points from the previous week and compared to 962 at this time last year. The grower index finished unchanged at 1206, about 37 points below its record high, but up from 872 at this time last year. The grower share of the weighted average dealer price for beans now stands at 77.7%, down 1.4 points from last week and down 3.4 points from this time last year.
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