Medium Kabuli Markets Collapse
PANAMA - Aug 10/18 - SNS -- Markets for medium and small caliber kabuli chickpeas came under intense pressure during the past week as markets expected a bearish USDA crop report.
Production in the United States was expected to set a record, but markets were surprised to see that output will likely exceed pinto beans for the first time in U.S. history.
In its latest crop report, the USDA boosted estimated land in chickpeas from an initial estimate of 662,300 acres to 822,000, well above last year's 623,800. The USDA reckons farmers planted 211,200 acres of small chickpeas, up from 179,500 last year; and 608,500 acres of large, compared to last year's 439,300 acres.
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