Mexican Bean Crop Rebounds
WASHINGTON - Oct 31/12 - SNS -- Dry edible bean traders in Canada and the United States have been getting increasingly worried the market reaction to last year's crop failure in Mexico could end up destabilizing markets through the remainder of the marketing year.
Traders have begun to talk about the possibility that bean growers will cut back production next year because of difficulty selling this year's harvest. That tought was given more definition by a report from the U.S. agricultural attache for Mexico.
Improved moisture conditions have resulted in significant improvements in yield prospects for this year's dry edible bean crops, with the result Mexico is now expected to harvest 1.1 million metric tons (MT) of beans, instead of the 830,000 MT originally forecast.
"The good rainfall provided much needed beneficial soil moisture to boost yields for the 2012 spring-summer crop cycle," reports the U.S. agricultural attache for the country.
Only active subscribers can read all of this article.
If you are a subscriber, please log into the website.
If you are not a subscriber, click here to subscribe to this edition of the STAT website and to learn more about becoming a subscriber.
