Falling Acreage Firms Beans
VANCOUVER - Apr 2/11 - SNS -- International dry edible bean markets finished the week on a firm note, with many market participants seeing the seeding intentions in the United States as bullish.
This was reflected in the spot market index for dry edible beans in the United States, which rose seven points on the week to finish at 1204. Meanwhile, the index for grower bids was unchanged at 1026.
That farmers intend to cut bean area around 30% was expected, but the impact such a change would have acreages for individual classes of beans seemed somewhat surprising to some market participants.
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