Beans Making Tough Transition

VANCOUVER - May 30/09 - SNS -- Dry edible beans are trying to make the tough transition into new crop, with harvests in the southern hemisphere starting to wrap up and seeding in the northern hemisphere winding down.

Improving availability of new crop beans is having an impact on international trading levels, but North America's internal markets are not following them because of seemingly tight supplies.

Some market participants believe North American processors and growers are strongly resisting international price trends because they "need" to get the kind of returns from selling old crop beans that they were expecting in December and January.

Argentina is in the midst of its dry edible bean harvest, with good progress reported on colored beans such as cranberry along with light and dark red kidney beans. The harvest is running seven to 10 days sooner than initially expected because hot weather during the growing season rushed plants toward maturity. The white alubia bean harvest is expected to nearly done by the middle of June.

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