Modest Increase in Canadian Bean Crop
VANCOUVER - Feb 23/14 - SNS -- In its latest monthly review of Canadian dry edible beans Agriculture Canada's market analysis branch in Winnipeg updated forecasts for 2014.
It thinks edible bean production this year will total 215,000 MT from 260,000 acres, compared to 209,000 MT from 215,000 acres in 2013. It is important to note that Agriculture Canada does not survey growers and its forecasts should not considered official.
Agriculture Canada forecasts exports will reach 245,000 MT in 2014-15, compared to 275,000 MT this season. Domestic use is forecast at 30,000 MT in the coming marketing year, versus 19,000 this season.
Season ending stocks are forecast to finish the 2014-15 marketing year at 5,000 MT, versus 5,000 this season and 30,000 MT last season.
Agriculture Canada estimates grower bids will average between $965 and $995 MT for all classes of edible beans this season and predicts they will range between $820 and $850 MT in 2014-15.
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