Firming Tone in Edible Beans
VANCOUVER - Apr 9/11 - SNS -- Dry edible bean markets finished the week's trading with a relatively firm undertone against ongoing demand and concerns about the depth of acreage decreases in North America.
This was reflected in the spot market index for dry edible beans in the United States, which rose 17 points on the week to finish at 1226. Meanwhile, the index for grower bids was up 18 points at 1044.
News that Brazil's edible bean harvest was up significantly over last year was initially viewed as a bearish development, but regional traders said there are significant quality problems with the first harvest, which was delayed due to poor weather.
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