Firm Finish For Edible Beans
VANCOUVER - Apr 2/10 - SNS -- Dry edible bean markets finished the week's trading on a relatively firm note, with sellers in Latin America finishing the week's business early for Easter observances.
Even so, markets in North American managed a slightly easier finish as demand slipped behind available supplies from growers and processors. This saw the spot market index for U.S. origin beans finish down 17 points on the week at 1133 points; while the spot grower bid index was up 3 points at 1044.
Markets were largely unaffected by the USDA seeding intentions estimates, with most traders saying a significant expansion in area was warranted by potential demand from Mexico and elsewhere.
The USDA reported land in all classes of edible beans could jump 15% from 1.54 to 1.77 million acres this year. Though the USDA does not break out seeding intentions by class, it would appear the biggest increases will be in pinto, navy, and black.
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