Argentine Harvest Selling Pressure in Beans
VANCOUVER - Jun 6/15 - SNS -- The world's dry edible bean markets finished the weak under pressure from sellers in Argentina, who feel pressure to sell a substantial crop.
This was reflected in the index for U.S. origin pulses, which was unchanged on the week to finish at 148.2. By contrast, the world export price index for pulses posted a modest gain on the week on strength in Australian markets, inching up 0.4 points at 185.3. Canada's special crop index gained 1.5 points to finish the week at 189.3.
North American markets are strongly influenced by the weather market developing in western Canada and parts of the United States. Frost events in Manitoba were not helpful because they raise fears of a smaller than initially expected harvest.
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