No Surprise Over Bigger U.S. Harvest
PANAMA - Oct 11/24 - SNS -- Dry edible bean markets were not overly surprised by the latest USDA production forecast, with the USDA pegging output at 1.336 million metric tons (MT) in states covered by the NASS, up 27% from last year.
Including production estimates for excluded states, with seeded area based on FSA data, suggests this year's harvest could be closer to 1.447 million MT of all classes combined.
Despite higher production, optimism over export demand allowed the U.S. dry edible bean price index to advance 1.2 points to finish the week at 93.3 points. Similarly, the global pulse price index rose 2.4 points during the week to finish at 107.9 and the Canadian index climbed 2.7 points to close at 95.9.
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