Weekly Dry Bean Market Review

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Trade activity in the dry bean sector remains light with moderate demand. USDA’s Weekly Bean, Pea and Lentil Market Review says new crop prices are steady to firm. For pinto beans, the bid price for growers is unchanged from last week at $45 per hundredweight. Black beans are holding steady at $45-to-$48. Navies are unchanged at $42.

Weekly Dry Bean Market Review

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USDA Market News reports trading of dry beans remains mostly light with moderate demand. New crop prices for all pulses remain steady to firm.
 
For pintos, the grower price in Minnesota and North Dakota is $45-to-$47 per hundredweight. That’s unchanged from the prior week’s report. Black beans are down slightly from the previous week at $45-to-$48 per hundredweight. Navies are unchanged at $42 per hundredweight. Dark red and light red kidney bean prices are at $44-to-$45 per hundredweight.
 
The USDA Crop Progress Report released November 1, 2021 has dry bean harvest at
95% complete for Colorado, Michigan at 99%, Nebraska at 96% and North Dakota at 95%.
 

Mexico Dry Bean Harvest Update

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It is estimated that Mexico’s 2021 spring/summer dry bean harvest saw 1.166 million hectares planted, with a harvestable area of 97% of the total planted. This is assuming no adverse weather events. 
 
At the time of this writing, harvest is still underway and has progressed as follows: 
  • 40% in Chihuahua
  • 25% in Durango
  • 50% in Guanajuato
  • 35% in San Luis Potosi
  • 20% in Zacatecas
Mexican dry bean production estimates at this time indicate a total of 644 thousand metric tons (MT) for this planting cycle. This is down 30.3% from the SIAP’s 923 thousand MT production estimate; down from the average of 839 thousand MT; and 6% higher than the 607 thousand MT estimated in 2020. 
 
Production per bean type is estimated as follows:
  • Black beans – 296 thousand MT, down 10.2%
  • Pinto beans – 262 thousand MT, up 42%
  • Colored beans – 86 thousand MT, down 7.9%
In the 2020/2021 trade year, dry bean imports reached 277 thousand MT for pinto and black beans, a record high in the last 11 years. Almost 90% of these beans were of U.S. origin.
 
If no adverse weather events occur in the next weeks, the production numbers may increase.The U.S. Dry Bean Council will be filing a final harvest update with more concise and updated production information in the coming weeks.

EU to End Retaliatory Tariffs

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The Biden Administration has announced that the European Union (EU) will lift retaliatory tariffs on U.S. exports in exchange for duty-free access for some steel and aluminum shipments.
 
U.S. dry bean exports to the EU have faced 25% retaliatory import tariffs since 2018 as a result of a trade dispute over U.S. tariffs on EU steel and aluminum. The EU had been the largest regional export market for U.S. dry beans prior to the imposition of 25% tariffs. 
 
Many of the dynamics have changed over the past three years as a result of retaliatory tariffs and the departure of the United Kingdom (UK) from the Union. While some dry bean exports have remained steady to top markets, such as Spain and Italy, others have declined steadily as the EU sought more competitive prices from other origins. 
 
With the removal of retaliatory tariffs, the U.S. Dry Bean Council says the industry can now focus on maintaining long-standing market shares and increasing exports in response to substantial interest in plant-based healthy and sustainable eating.
 
The UK is one of the top three European trade destinations for U.S. dry beans, and now operates as a stand-alone market separate from the EU. This presents significant growth opportunities for exports of U.S. dry beans as the UK is one of the most advanced markets in promoting plant-based foods. The UK has yet to remove the 25% retaliatory tariffs, but it is anticipated that this will also happen before the end of the year. 
Jon Ihry

Save the Date – U.S. Dry Bean Harvest Review

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The U.S. Dry Bean Council is hosting a webinar outlining the results of the 2021 dry bean harvest. The event will be held November 17 at 9 a.m. Central Time. Register here.
 

Weekly Dry Bean Market Review

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USDA Market News reports trading of dry beans remains mostly light with moderate demand. New crop prices for all pulses remain steady to firm.
 
For pintos, the grower price in Minnesota and North Dakota is $45-to-$47 per hundredweight. That’s unchanged from the prior week’s report. Black beans are down slightly from the previous week at $45-to-$48 per hundredweight. Navies are unchanged at $42 per hundredweight. Dark red and light red kidney bean prices are at $44-to-$45 per hundredweight.
 

Global Travel Restarting, Trade Team Delegates Assigned for 2022

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After over a year of lock down, the U.S. Dry Bean Council (USDBC) global representatives have begun to venture out into their respective marketplaces. Representatives in the Americas and China have begun to resume limited in person trade servicing. European representatives are attending two trade shows in October. The USDBC is hopeful that all Asia representatives will be able to resume some travel as COVID restrictions ease. 
 
Most travel by U.S. trade team delegates overseas is curtailed through the end of 2021 due to ongoing travel complications, but USDBC is hopeful to restart some travel in early 2022. 
 
The International Promotion Committee has completed the process of reviewing trade team applications and delegates have been assigned for fifteen different trade events beginning in January 2022, with the caveat to remain flexible through Q1 2022 to ensure everyone’s health and safety. 
 
More travel opportunities may be added during 2022 as opportunities come up.

Weekly Dry Bean Market Review

/in , /by
USDA Market News reports trading of dry beans remains mostly light with moderate demand. New crop prices for all pulses remain steady to firm.
 
For pintos, the grower price in Minnesota and North Dakota is $45-to-$45 per hundredweight. That’s down slightly from the prior week’s report. Black beans are down slightly from the previous week at $45-to-$49. Navies are unchanged at $42 per hundredweight. Dark red and light red kidney bean prices are steady at $44-to-$49 per hundredweight.
 

Fertilizer Prices Continue to Soar

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According to DTN’s weekly survey of ag retailers, fertilizer prices are continuing to move higher. Potash and urea were both up 17 percent from one month ago. MAP was ten percent more expensive. UAN28 and UAN32 were eight percent higher than last month with UAN 28 topping the $400 per ton level for the first time since May of 2013. Anhydrous prices are now averaging over $800 per ton, up seven percent from a month ago. DAP prices are up five percent.

U.S. Dry Bean Production Expected to Decline

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USDA released the latest Crop Production Report on October 12. U.S. production of dry beans is forecast at 22.6 million cwt, down 3 percent from the August forecast and
down 31 percent from 2020. Area planted is estimated at 1.40 million acres, down 4 percent from the August forecast and down 20 percent from 2020. Area harvested is forecast at 1.34 million acres, down 4 percent from the August forecast and down 20 percent from 2020. The yield is forecast at 1,686 pounds per acre, an increase of 11 pounds from the August forecast, but a decrease of 280 pounds from last season.
 
In North Dakota, dry bean production is forecast at 5.95 million cwt, down 53% from 2020. Area for harvest, at 640,000 acres, is down 18% from last year. Yield is estimated at 930 pounds per acre, down 700 pounds per acre from last year.
 
Minnesota dry bean production is forecast at 4.47 million cwt, down 19 percent from last year. An expected 229,000 acres will be harvested, with an expected yield of 1,950 pounds per acre.