Markets Start Reacting to USDA Bean Number
PANAMA - Aug 13/21 - SNS -- International dry edible bean markets maintained their firm tone through the past week, with markets in the United States starting to respond to the first production estimate from the USDA.
Output for the year is currently expected to reach 1.057 million metric tons (MT), down 29% from last year's 1.495 million MT harvest. Including states recently excluded by the USDA suggests total output is closer to 1.1 million MT, down from 1.571 million last year and below the recent five year average of 1.235 million.
By week's end, the dry edible bean price index for the United States had jumped 5.2 points on the week to finish at 110.6, for the sixth week over week increase.
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