Weekly Dry Bean Market News

 
Dry bean trading activity is very limited with very good demand according to USDA’s Weekly Market News. North Dakota and Minnesota grower prices for pinto beans are at $32 to $35 per cwt. Black beans remain steady at $23 to $26 per cwt and navy beans are at $28 to $30 per cwt. Kidney bean prices for Minnesota remain steady at $38 to $45 per cwt. View the report.

Dry Bean Trade Team Headed to the UK

A team of three industry delegates will head to the United Kingdom representing the U.S. Dry Bean Council for a packed week of business meetings with buyers and industry representatives in Manchester and London. The mission will wrap up with a visit to the trade division of the European Parliament in Brussels, where delegates will get an update on the implications of the ongoing tariff dispute that places 25 percent retaliatory tariffs on U.S. dry bean imports to the EU. Learn more about the trade mission.

Weekly Dry Bean Market News

Dry bean trading activity is very limited with very good demand according to USDA’s Weekly Market News. North Dakota and Minnesota grower prices for pinto beans are at $30 to $35 per cwt. Black beans remain steady at $23 to $26 per cwt and navy beans are at $27 to $28 per cwt. Kidney bean prices for Minnesota remain steady at $38 to $45 per cwt.

U.S. and China Come to Agreement

 
The news of a trade deal between the U.S. and China started to unfold this past week. Chinese officials were vague in a press conference today on the details, but did confirm an agreement on the context of a phase one deal. This includes an increase in agricultural imports. A 25 percent tariff will remain in place, but the penalty tariffs originally set to go into effect Sunday, December 15 will not be charged. Negotiations on the phase two deal will begin immediately. Read more.

USMCA Deal Reached

The United States, Mexico and Canada reached a deal on tweaks in labor and steel and aluminum provisions in the U.S.-Mexico-Canada Agreement. “There’s no question this trade agreement is much better than the North American Free Trade Agreement, but in terms of our work here it’s infinitely better than what was initially proposed by the administration,” said House Speaker Nancy Pelosi. “It’s a victory for America’s workers and one I take pride in advancing.”
 
Mexico’s Senate has approved the changes made to the U.S.-Mexico-Canada Agreement. On a 107 to 1 vote, Mexico is the first country to ratify the modified trade deal. Now, the USMCA needs approval from U.S. and Canadian lawmakers. The trade deal could come to the U.S. House floor next week for ratification.

Weekly Dry Bean Market News

Dry bean trading activity is very limited with very good demand according to USDA’s Weekly Market News. North Dakota and Minnesota grower prices for pinto beans are at $30-32 per cwt. Black beans remain steady at $23 to $26 per cwt, while navy beans increased to $27 to $28 per cwt. Kidney bean prices for Minnesota remain at $38 to $45 per cwt.

Dry Bean Scene

Specialty crops make up about ten percent of the total crop acreage in the United States, which makes dry beans an important piece of the 2020 outlook. Get the details in the Dry Bean Scene on the Red River Farm Network, made possible by the Northarvest Bean Growers Association.

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 $28 to $30 per cwt. Black beans remain steady at $23 to $25 per cwt, while navy beans are at $25 to $26 per cwt. Kidney bean prices for Minnesota jumped to $38 to $42 per cwt. View the report.

Production Numbers Continue to Decline in Mexico

According to U.S. Dry Bean Council Mexican market intelligence, Mexico dry bean production estimates for November declined as harvest wraps up. Production is estimated around 400 thousand metric tons for all states that planted dry beans in 2019 spring/summer cycle. This would be 52 percent less than the 859,000 metric tons produced in 2018. In Chihuahua, some lots were not even harvested due to frost that occurred at the end of October and first week of November. Pinto beans are practically sold out. Zacatecas is reportedly the most stable so far. Damage is still being assessed and more cold fronts are expected during the remainder of November. Producers in Durango are trying to capitalize on the recent cold spells, demanding the government increase the price guarantee from 14,500 to 18,000 pesos (US$763.15 to US$947.36 per metric ton.) Read more.

Trade Mission Reveals Future Opportunities with Turkey

Trade dynamics with Turkey can be challenging and influenced by numerous variables. The U.S. Dry Bean Council is optimistic about reports from a trade delegation that returned from Turkey last week, confirming that contacts remain strong, as does interest in purchasing U.S. dry beans. Turkey’s own domestic dry bean production has been declining over the past decade, while consumption remains strong. A stronger currency means that Turkish buyers are now in a good position to purchase high quality U.S. dry beans this year and beyond. This is traditionally a market for white beans and garbanzos. Read more.