Buying Interest Supports Dry Beans
PANAMA - Jun 26/16 - SNS -- International dry edible bean markets were left in a nervous state by week ending weakness in international currency markets and uncertainty over the economic outlook caused by Britain's decision to leave the European Union.
Even, edible bean markets continue to be more strongly influenced by solid demand fundamentals. This was reflected in the U.S. spot index for beans, which finished the week up 0.6 points at 150.6 points.
By contrast, the world pulse price index finished lower on the week, dropping 0.9 points to finish at 236. At the same time, the Canadian index sank 4.5 points to close at 230.5.
As the week got underway, the USDA reported that seeding of this year's dry edible beans crops is wrapping up in most areas. As the week got underway the USDA reported seeding was 97% complete in North Dakota, 99% in Idaho, 87% in Colorado, 87% in Michigan, 96% in Nebraska, and 96% complete in Wyoming.
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