Bean Values Adjust to New Crop Basis
VANCOUVER - Aug 28/10 - SNS -- North American dry edible bean markets are fully engaged in the transition into new crop pricing basis for all classes.
This left the spot market index for U.S. origin beans down 22 points at 935, while the spot grower bid index was down 32 points at 869 against expectations of record yields on a higher seeded area.
Markets are not fearful of their ability to market what will be grown this year, but they remain aware that they will not set the price tone for export markets.
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