Mixed Week in Dry Beans
PANAMA - Aug 13/16 - SNS -- International dry edible bean markets finished the week's trading on a mixed note, with selling interest pushing just ahead of buying interest.
Markets were unaffected by the USDA crop production estimates, which suggested total output in the United States will reach 1.4 million metric tons (MT), up almost 3% over last year. The official number shows production being down 2% at 1.366 million MT, but several states which were counted last year are no longer included in seeded area and production estimates. Those states grew 60,000 MT of beans in 2015.
Even so, North American sellers remain mostly withdrawn, watching the weather situation in bean growing areas to assess how the crop is developing before adding to sales. This was reflected in the U.S. spot index for beans, which finished the week down 0.6 points at 139.3.
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