Bean Markets in Defensive Mood
VANCOUVER - May 29/10 - SNS -- Dry edible bean markets finished the week's trading on a mostly defensive note, with many buyers absent and exporters reluctant to chase them.
Many are troubled by the latest round of extreme volatility in international currencies, which is leaving buyers afraid to cover more than hand to mouth needs until exchange rates stabilize.
This was partly reflected in North American markets, where the spot market index for U.S. origin beans finished the week 34 points lower at 1059 points; while the spot grower bid index was down 1.0 points at 998.
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