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NA Beans Start New Crop Transition
VANCOUVER - Aug 11/12 - SNS -- Dry edible bean markets managed a mixed finish, with North America making the transition into a new crop pricing basis and demand emerging for ready product from South America.
This year's dry edible bean crop in the United States could reach 27.0 million cwt (100 pound units) or 1.225 million metric tons (MT), up 36% from last year, according to the USDA's first objective yield estimate for the crop.
Planted area is now estimated at 1.71 million acres, up 42% from 2011, and up 5% from the June estimate of 1,63 million acres. Interestingly, area is nearly identical to the 1.73 million acres forecast by STAT in the middle of January.
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