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.

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 at $27 to $28 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 latest report.

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 at $27 to $28 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.

CAFTA/DR Trade Agreement Nearing Full Implementation in 2020

For many years, the Dominican Republic has been one of the top export destinations for United States dry bean exports in the Americas. It is the top export market in the region (minus Mexico) for the period September – July 2019 at 26,000 metric tons. This is down slightly from the same period in 2018, which was recorded at 32,000 metric tons.
 
One of the reasons for this market success is the CAFTA/DR free trade agreement that went into effect in 2005. The agreement includes a tariff rate quota system that gives the U.S. the advantage of duty free market access for a specific quantity of exports every year until full implementation. Once the duty free quota is filled, preferential duties are offered on a sliding scale for up to 36,000 metric tons of U.S. origin dry beans. Read more.

Mexico Dry Bean Crop May Fall Short

The U.S. Dry Bean Council’s re-survey of the Mexican 2019 Spring-Summer dry bean crop confirmed definitively that the bean planting surface was reduced as a result of the drought from June through August,. As a result, production is estimated at 417,101 metric tons, 54 percent less than SIAP’s (Mexico’s agricultural data Secretariat) estimates and 52.5 percent less than the average in the last seven Spring-Summer cycles.
 
Total production for Mexico’s two dry bean crops of the 2019 agricultural year is expected to reach 700,298 metric tons, 43 percent short of SIAP’s projections and 38 percent below average production levels. Additionally, the estimated bean production, is not enough to trigger the use of the government’s dry bean support program. 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 are at $22 to $27 per cwt. Black beans remain steady at $23 to $25 per cwt, while navy beans are at $25 per cwt. Kidney bean prices for Minnesota jumped to $37 to $42 per cwt. View the latest market news.

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 at $22 to $25 per hundredweight. Black beans remained steady at $23 to $24 per hundredweight, while navy beans are at $24 to $25 per hundredweight. Kidney bean prices for Minnesota are at $35 to $37 per hundredweight. Get the latest dry bean market news.