Crop Worries Support Beans
VANCOUVER - Sep 2/11 - SNS -- Dry edible bean markets continue to find support in worries about the status of crops in Canada and the United States.
While end users are showing little interest in buying product, perhaps hoping their absence will lower prices, edible bean growers are equally disinterested in selling.
Good incomes from other crops and earlier sales of beans make it easy for farmers in Argentina, the United States, and elsewhere to be more deliberate in selling product.
This combination of events helped lift the spot market index for U.S. origin beans to a new record high, with the index rising 20 points on the week to finish at 1565.
Meanwhile, the index for grower bids gained five points on the week to finish at a new record high of 1383 points.
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