Weekly Dry Bean Market News

Dry bean trading activity remains limited with moderate demand. According to USDA’s Weekly Market News, North Dakota and Minnesota grower prices for pinto beans are $21 to $23 per hundredweight. Black beans remained steady at $22 to $24 per hundredweight, while navy beans are at $24 per hundredweight. Kidney bean prices for Minnesota are at $35 to $37 per hundredweight.
 

Tariffs Leave the Kidney Bean Crop in Limbo

By Dan Gunderson, MPR News

Kidney beans are just one of several varieties of beans classified as dry edible beans. “When you take the North Dakota, Minnesota and southern Manitoba growing region, half of the North American dry bean crop is produced in that area,” says John Bartsch, a trader with Kelley Bean Company, who also grows beans on an eastern North Dakota farm. “And so if they have a good crop or a poor crop, it has an outsized impact on price.”

About 60 percent of kidney beans harvested are used in the United States and the rest are exported. “Domestically, they’re going down to Faribault, Minnesota for canning there and for foreign export. Most of them go to the E.U. or Central America,” says Perham, Minnesota farmer Mark Dombeck.

Lately, trade disputes have played a larger role in the direction of the industry. “Right now, our competition for exports is Canada and Argentina,” says Dombeck. “They don’t have a tariff, so we’re at a disadvantage,” The European Union has been a steady kidney bean customer for years, he adds. But last year, trade disputes disrupted the relationship when the E.U. put a retaliatory tariff on the beans after the U.S. had placed tariffs on steel and aluminum.

Read more and listen to the story.

Weekly Dry Bean Market News

Dry bean trading activity remains limited with moderate demand. According to USDA’s Weekly Market News, North Dakota and Minnesota grower prices for pinto beans increased to $22 to $23 per hundredweight. Black beans also jumped to $22 to $24 per hundredweight, while navy beans remain steady at $22 to 24 per hundredweight. Kidney bean prices for Minnesota are at $34 to $37 per hundredweight.
 

Chinese Dry Bean Production Pegged at 195,000 MT

China’s dry bean production for 2019 is estimated at 195,000 metric tons, with supplies of 221,000 MT.
Both planting and harvest area for black beans in China has been significantly reduced due to a conversion to soybeans and low market prices. The planting and harvest area for dark red kidney beans increased 35 percent from the previous year due to high domestic demand and decreased planting and harvest area in 2018. Market demand for high-grade (also called canned grade) DRK has been high. More exporters are prepared to switch their export business to import.
 

U.S. and Japan Roll Out a Trade Agreement

During the United Nations General Assembly in New York, President Donald Trump and Japanese Prime Minister Shinzo Abe announced the first stage of the new trade agreement between the U.S. and Japan. This agreement levels the playing field in terms of market access for certain agriculture and industrial goods, as well as on digital trade. In the next two weeks, the two countries will work out more details. The first stage of the agreement is expected to be finalized by January 2020.

U.S.-Japan Trade Agreement Fact Sheet

 

Drought in Mexico Decreases Production Projections

The U.S. Dry Bean Council August Planting Intentions report confirms that extended drought in Mexico during the critical planting period resulted in an almost 50 percent decrease in bean planting surface. That also means a production drop of over 56 percent against the Mexican Agricultural Secretary’s (SIAP/SADER) projections.
 
During the critical month of June 2019, precipitation was scarce causing moderate drought in areas in the key dry bean growing states of Chihuahua, Durango, Guanajuato and Zacatecas, delaying bean planting. July was classified as the driest month in history, according to national records. The lack of rain caused extreme stress in the beans planted in the last week of June, reducing the planting surface. Read more.

Weekly Dry Bean Market News

Dry bean trading activity remains limited with moderate demand. According to USDA’s Weekly Market News, North Dakota and Minnesota grower prices for pinto beans range from $20 to 22 per hundredweight. Navy beans are at $23 per hundredweight, while black beans are at $21 to 24 per hundredweight.
 

Weekly Dry Bean Market News

Dry bean trading activity remains limited with moderate. According to USDA’s Weekly Market News, North Dakota and Minnesota grower prices for pinto beans range from $20 to 22 per hundredweight. Navy beans are at $23 per hundredweight, while black beans are at $21 to 24 per hundredweight.

Weekly Dry Bean Market News

The only grower price available in this week’s Dry Bean Market News report is garbanzos, which range from 13.00-16.00. Dry bean trading activity remains limited with very light demand.

Latest Dry Bean Market News

Is It Too Late for the Mexico Crop?

Over the past few weeks, the U.S. Dry Bean Council has been reporting dry conditions in Mexico dry bean growing regions and offering projections about the potential impact on this year’s production levels. A lack of rain occurred during a critical time in the planting process. Therefore, most reporting, combined with the observations of an USDBC agronomist, make it increasingly certain that lack of planting, late planting and late rains will all affect production levels. Read more.