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Beaners Want More Acreage
VANCOUVER - Jun 27/08 - SNS -- North American dry edible bean markets were surprised by Statistics Canada's seeded area estimates. Instead of showing the dramatic decline expected by industry participants, plantings only dropped from 391,100 to 374,400 acres.
Interestingly, seeded area in Manitoba increased over last year, while declines in Ontario and Alberta were smaller than initially expected. With average yields, Canadian output stands a chance of matching last year's output.
However, that is not viewed as negative because bigger crops are needed in both Canada and the United States just to keep pace with domestic requirements. This need feels larger against reports of problems seeding China's crops.
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