Weekly Dry Bean Market News

Dry bean trading activity is steady with very good demand, according to USDA’s Weekly Market News. Contract product is moving steady. North Dakota and Minnesota grower prices for pinto beans are $38 to $40 per cwt. Black beans remain steady at $25 to $27 per cwt and navy beans are at $30 to $35 per cwt. In North Dakota, Garbanzo beans are remain steady at $17 per cwt.

USMCA Enters into Full Force

On July 1, the United States-Mexico-Canada Agreement (USMCA) entered into force, replacing the decades-old NAFTA. USMCA was signed into law by President Donald J. Trump on January 29 after it received overwhelming bipartisan support in Congress. USMCA advances U.S. agricultural interests in two of the most important markets for American farmers, ranchers, and agribusinesses.
 
Key provisions in USMCA for the dry bean industry include:
  • Sanitary/Phytosanitary Measures: The three countries agree to strengthen disciplines for science-based measures that protect human, animal, and plant health while improving the flow of trade.
  • Biotechnology: For the first time, the agreement specifically addresses agricultural biotechnology – including new technologies such as gene editing – to support innovation and reduce trade-distorting policies.
This high-standard agreement builds upon existing markets to expand U.S. food and agricultural exports and support food processing and rural jobs. Canada and Mexico are the first and second largest export markets for U.S. food and agricultural products, totaling more than $39.7 billion food and agricultural exports in 2018. These exports support more than 325,000 American jobs.

Dry Bean Prices Higher Compared to One Year Ago

USDA released their Agricultural Prices Report on June 30. The price comparisons for dry edible beans are listed below.

The full report is available here.

More Dry Bean Acres Estimated in 2020

Area planted for dry beans in 2020 is estimated at 1.59 million acres, up 23 percent from last year. Area harvested is forecast to total 1.53 million acres, up 30 percent from last year. Eight out of nine estimating States show an increase in total dry bean planted acres compared to last year. Planted area in North Dakota is expected to be a record high.

View the full June Acreage Report from USDA here.

Weekly Dry Bean Market News

Dry bean trading activity is steady with very good demand, according to USDA’s Weekly Market News. Contract product is moving steady. North Dakota and Minnesota grower prices for pinto beans are $38 to $40 per cwt. Black beans remain steady at $25 to $27 per cwt and navy beans are at $30 to $35 per cwt. In North Dakota, Garbanzo beans are remain steady at $17 per cwt.

Dry Bean Production Updates from China and Argentina

China:
An initial survey of China’s prospective dry bean planting reveals that production in 2020 is estimated to be down by 9% with total volume of 174,500 MT. Planting area is estimated down 9% with total sowing area of 110,400 hectares. Growers have been active planting light speckled kidney beans (LSKB), red speckled kidney beans (RSKB) and purple speckled kidney beans (PSKB) due to increased market demand. However, farmers have much less interest in growing black beans and white beans this year which have been basically been planted for export markets. As a result, sowing area for black beans has declined this year but the sowing area for LSKB, RSKB and PSKB is roughly at the same level as last year.
 
Argentina:
A late May frost damaged about 5% of the bean crop in some of the Argentine planting areas. Weather is expected to be good for the remaining harvest through the end of June. To date, quality is good for kidney beans and alubias and we are estimating increased production. Black beans will be mixed, due to the wider production area and frost damage. For cranberries, this was not a good year, and most beans available are small size and regular quality. The 2020 crop is already being shipped, especially black and LRK. Exporters are still cautious when it comes to offering alubias and kidneys, because beans are just getting to the processing facilities but exports are following a healthy pace to date.

Global Uptick in Pesticide/Herbicide Restrictions Could Disrupt Trade

The U.S. Dry Bean Council (USDBC) is keeping a close eye on the changing regulatory environment governing the import of different pesticide/herbicide products. This is an issue that has been brewing for some time but recent health concerns are increasingly translating into import bans on the products themselves and the announcement or notification of intent to lower tolerances or maximum residue levels (MRLs) on imported agricultural products. So far Mexico, Thailand, Vietnam, China and the European Union have all announced varying degrees of intent to revisit tolerance levels. This includes precautionary principles (Mexico), future intentions as part of a new Green Deal (EU), and actual notifications to the WTO (China), which is the last step in making a new tolerance level official.
 
The USDBC has long encouraged that countries follow harmonized MRLs as set by Codex but that no longer seems to be an acceptable standard in many of our export markets. Before a notification is made to the WTO and becomes final, the U.S. agricultural community always has the chance to submit commentary but this may or may not alter the course of the intention to lower an MRL. While not all of these affect the U.S. dry bean industry, this is generally a concerning trend as it moves away from harmonization and Codex and could be disruptive to trade. Right now, the USDBC is in an information gathering stage at this point and is planning a new research and advocacy initiative focused on global MRLs for late 2020/21. 

Weekly Dry Bean Market News

Dry bean trading activity is steady with very good demand, according to USDA’s Weekly Market News. Contract product is moving steady. North Dakota and Minnesota grower prices for pinto beans are $38 to $40 per cwt. Black beans remain steady at $25 to $27 per cwt and navy beans are at $30 to $35 per cwt. In North Dakota, Garbanzo beans are remain steady at $17 per cwt.

Weekly Dry Bean Market News

Dry bean trading activity is steady with very good demand, according to USDA’s Weekly Market News. Contract product is moving steady. North Dakota and Minnesota grower prices for pinto beans are $38 to $40 per cwt. Black beans remain steady at $25 to $28 per cwt and navy beans are at $30 to $35 per cwt. In North Dakota, Garbanzo beans are remain steady at $17 per cwt.

Weekly Dry Bean Market News

Dry bean trading activity is steady with very good demand, according to USDA’s Weekly Market News. Contract product is moving steady. North Dakota and Minnesota grower prices for pinto beans are $38-$40 per cwt. Black beans remain steady at $25 to $28 per cwt and navy beans are at $30 to $35 per cwt. Kidney bean prices for Minnesota jumped to $40 to $50 per cwt. In North Dakota, Garbanzo beans are remain steady at $17 per cwt.