USDA Reports Does Not Affect Beans
VANCOUVER - Dec 14/13 - SNS -- Dry edible bean markets had fully anticipated the USDA's final production estimates for 2013. As a result, markets did not react to the news production was down almost 25% from last year at 1.09 million metric tons (MT).
This was helped by the fact trading interest normally slows at this time of year, with both growers and processors thinking more about the upcoming holiday season than buying and selling beans.
The spot market index for U.S. beans finished the week down two points at 1571. Markets are much stronger at this time last year, with the index up roughly 248 points from December of 2012.
Markets outside North America remain firm. No trading is being reported in Argentine white alubia beans, with the result that markets is unquoted.
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