Firmer Prices Seen For Beans
PANAMA - Oct 2/16 - SNS -- In its latest monthly review of Canadian dry edible beans Agriculture Canada's market analysis branch in Winnipeg predicts edible bean production this year will total 255,000 MT from 119,000 hectares, compared to 249,000 MT from 108,000 hectares last year.
Agriculture Canada forecasts exports will reach 310,000 MT in 2016-17, compared to an estimated 324,000 MT last season. Domestic use is forecast at 25,000 MT in the coming marketing year, versus 30,000 last season.
Season ending stocks were pegged at 10,000 MT for the 2015-16 marketing year. Agriculture Canada thinks the coming marketing year could finish with 10,000 MT of dry edible beans on hand.
Agriculture Canada said the average grower bid for all classes of beans were $775 MT in 2015-16. It thinks the season average bid will range between $800 and $830 MT in 2016-17.
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