Underlying Strength in Dry Beans
PANAMA - Jul 8/17 - SNS -- North American dry edible bean markets finished the week's trading mostly unchanged because of a holiday shortened week in the United States, but with a firm undertone because of fears about the impact dry conditions will have on yields.
Grain and oilseed markets showed the strongest reaction, with speculators pushing futures sharply higher in the week. But grower selling and profit taking trimmed gains by week's end.
This was reflected in the U.S. spot index for beans which was unchanged on the week at 135.9. Other pulse markets were generally firmer in sympathy with grains and oilseeds. The Canadian pulse price index inched up 0.5 points to finish at 177.9, while the world pulse price index rose 3.1 points to close the week at 170.7.