Beans Mainly Sideways
International dry edible bean markets finished last week’s trading with little change. As a result, the U.S. dry edible bean price index increased by 0.1 point on the week to close at 100.8. North American markets remain influenced by relatively large inventories of some classes of beans. The December stocks found commercial inventories of pinto and navy beans were up significantly over last year, while black bean stocks posted a smaller increase. Pinto stocks reported by licensed grain dealers in North Dakota jumped from 198,031 metric tons to 310,339 mt. Black bean inventories also increased from 43,321 to 50,411 mt. Bids to U.S. growers for black beans are sitting in low territory and have only been higher 30% of the time since 2007 or 1988.