STAT Communications Ag Market News

Buyers Wait For New Crop Beans

PANAMA - Aug 28/20 - SNS -- Spot and new crop markets are rapidly converging in the United States as the attention of markets switches to the coming harvest.

This was reflected in the spot index for dry edible beans in the United States, which sank 7.2 points on the week to finish at 80.4. By contrast, the global pulse price index inched up 0.1 points ended the week at 73.2, while the Canadian pulse prices index slipped 0.2 points to close at 68.8.

There are indications many canners and packagers are well stocked with beans and other pulses relative to their short term needs, with the result few are showing interest in buying additional old crop product.

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