Slight Easing In Dry Beans
PANAMA - Feb 8/19 - SNS -- International dry edible bean markets finished the week with a slightly easier undertone against the withdrawal of most Brazilian buyers and limited demand from other destinations.
News that combined dry edible bean and chickpea production was higher than initially expected had no impact on markets. In August, the USDA thought production would reach 1.63 million metric tons (MT). It final crop report for 2018 pegged the harvest at 1.7 million, up 4% from last year.
However, all of the increase was in chickpeas. Production of all other classes of beans was down 13% from last year at 1.178 million MT. Chickpea production in the U.S. jumped from around 322,500 to almost 579,000 MT.