Edible Beans Enter Firming Trend
PANAMA - Jan 12/20 - SNS -- North American dry edible bean markets finished the week's trading on a firmer note as the final USDA production estimate for 2019 discovered production was 15% lower than initially expected.
For those states covered in the report, output was pegged at 942,890 metric tons (MT), down 16% from last year. Including estimates for states previously covered by the report, total output is thought to be just over 983,000 MT, down from 1.172 million last year.
This was reflected in inter-dealer markets in the United States, with the result its spot index for dry edible beans advanced 0.9 points on the week to close at 141.6. The index has risen almost 21% since the start of the U.S. marketing year.