Relatively Tight Bean Outlook
VANCOUVER - Dec 10/14 - SNS -- Dry edible bean production in the United States maintained its recent whipsaw pattern by rising sharply over last year.
This saw production jump 17% to 1.301 million metric tons (MT) on account of significant increases in output in North Dakota, Nebraska and Michigan. It is worth noting that while seeded area was increased roughly 26,000 acres from the October report to 1.71 million acres, lower then expected yields in some key states resulted in a 115,000 MT drop in the estimated size of this year's harvest.
Bigger crops in the United States and Canada will have a major impact on the supply situation in the North American Free Trade Agreement (NAFTA) zone. Combined output is up roughly 243,000 MT from last year, lifting the available supply of dry edible beans from 2.83 to 2.92 million MT. During the previous five years, there was an average 2.68 million MT of beans available annually in the NAFTA region.
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