Section 32 Dry Bean Purchase

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The U.S Department of Agriculture has purchased dry edible beans via Section 32 for distribution to the child nutrition and other related domestic food assistance programs for Fiscal Year 2021. The purchase includes 174,720 CS of navy beans, totaling more than $2.46 million.
 

Dry Bean Scene

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The dry bean markets are certainly starting to tell a story. Acres are down dramatically in 2021 and production is being impacted by ongoing drought in North Dakota and Minnesota. Hear more from Martinson Ag Risk Management President Randy Martinson in the Dry Bean Scene. This radio program is made possible, in part, by the Northarvest Bean Growers Association.

Canadian Dry Beans in Good Position

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Alvin Klassen, president of Dry Bean World, which provides information on dry bean production in Canada and the northern United States, said this year’s drought has cut yields, and already prices are climbing as analysts predict much lower production and supply shortages.
 
“It is already affecting markets significantly,” Klassen said. “We’re seeing record dry bean prices in North Dakota, or new crop contracts for 2021. And we’re also seeing some very aggressive bids. Over 50 cents a pound in Canadian dollars for old crop beans.
 
“When you get into the specialty beans, like kidneys and cranberry beans, they’re talking 65 to 70 cents per pound,” Klassen said.
 
After last season’s record dry bean crop in Western Canada, this year comes as a disappointment as far as yields go. He said the producers who manage to get a good crop off could earn a lot of money for it. Irrigation will play a major role in bean harvest numbers.
 
“If they’re in a drought region, beans are going to be devastated. There’s going to be no bean harvest,” said Garry Hnatowich research director at Irrigation Crop Diversification Corp. about beans that aren’t irrigated, the research director at Irrigation Crop Diversification Corp.
 
Even irrigated beans have had challenges. “Under irrigation, well beans are a warm-loving crop so we’ve certainly had the heat but it may be a little too much of a good thing, because what I’m noticing at our dry beans here in Outlook (Sask.) is that the maturity has been advanced. So it didn’t matter how much water we put on the beans, the intensity of the sunlight and the heat was too much for the beans.”
 
Hnatowich said despite this, crops under irrigation will still produce.“We will have a harvest, there’s no doubt about it, but we could have used five degrees to seven degrees less temperature. That would have been ideal for us. They look good, but I don’t think the yield is going to be as good as what it appears to be.”
 
Klassen echoed Hnatowich’s statement. “But the drought has made for some very weird shaped pods,” Klassen said. “So we’re seeing a lot of pods that only have one or two beans. And normally, there should be five to seven.”
 
Klassen said the market prices this year shocked him.“In the 20 years, I’ve been involved in dry bean production, I have not seen prices that high. It’s quite something.”
 

Weekly Dry Bean Market Review

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USDA Market News reports that firm grower prices continue across the pulse industry, with mixed demand and minimal trade.
 
Grower prices for black beans in North Dakota and Minnesota are at $40-to-$45 per hundredweight (cwt). Pinto bean prices are at $40-to-$45 per cwt. Navy beans are at $35-to-$37 per cwt. Dark red and light red kidney bean prices are at $44-to-$48 per cwt.
 

Weekly Dry Bean Market Review

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USDA Market News reports dry edible bean prices are unevenly steady. Minimal trade and mixed demand persist while growers await harvest to assess yields.
 
Grower prices for black beans in North Dakota and Minnesota are at $40-to-$43 per hundredweight (cwt). Pinto bean prices are at $38-to-$42 per cwt. Navy beans are at $35-to-$37 per cwt. Dark red and light red kidney bean prices are at $44-to-$48 per cwt.
 

U.S. Dry Bean Production Estimated to Decline 29%

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The U.S. Department of Agriculture (USDA) released the August Crop Production Report on Thursday.
 
Production of dry edible beans is forecast at 23.3 million hundredweight (cwt), down 29 percent from 2020. Area planted is estimated at 1.46 million acres, down 3 percent from the previous acreage report and down 16 percent from 2020. Area harvested is forecast at 1.39 million acres, down 3 percent from the Acreage report and down 17 percent from 2020.
 
The average United States yield is forecast at 1,675 pounds per acre, a decrease of 291 pounds from last season. North Dakota is currently experiencing a drought, which is affecting dry beans in most of the State. Low yields are being reported due to the dryness.
 
For North Dakota, dry bean production is forecast at 6.91 million cwt, down 46 percent from last year. Harvested acreage is estimated at 640,000, down 18 percent from a year ago. The average yield is forecast at 1,080 pounds per acre, down 550 pounds per acre from last year.
 
Acres planted by class in North Dakota are as follows:
 
                              2020            2021
Pinto –                 532,000      463,000
Black –                 126,000      85,000
Navy –                   96,000       78,000
Small Red –          13,800        14,000
Pink –                    4,700         6,300
Great Northern – 4,000        9,800
 
For Minnesota, dry bean production is forecast at 3.77 million cwt, down 32 percent from last year. Harvested acreage is estimated at 229,000, down 13 percent from a year ago. The average yield is forecast at 1,650 pounds per acre, down 450 pounds per acre from last year.
 
Acres Planted by class in Minnesota are as follows:
 

Weekly Dry Bean Market Review

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USDA Market News reports most dry bean prices remain mostly stable.
 
Grower prices for black beans in North Dakota and Minnesota are at $40-to-$43 per hundredweight (cwt). Pinto bean prices are at $38-to-$41 per cwt. Navy beans are at $35-to-$38 per cwt. Dark red and light red kidney bean prices are at $44-to-$48 per cwt.
 
According to the U.S. Drought Monitor on July 29, drought conditions persist and worsen in the upper Midwest, the High Plains of Wyoming, the Dakotas and the Northwest.
 

STB Chairman Expresses Concern Over Container Supply Chain Issues

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The global container-based supply chain serving U.S. exporters and importers is continuing to experience unprecedented challenges, congestion, delays and cost increases at virtually every step in the system: overseas and North American ports, railroads, shipping lines, inland rail terminals, trucking and warehousing, noted Specialty Soya & Grains Alliance (SSGA) in a recent transportation update.

Surface Transportation Board (STB) Chairman Martin J. Oberman, on July 22, sent a letter to all Class I railroads expressing his concern over persistent problems with congestion in the international intermodal supply chain and significant container storage fees that some shippers are being required to pay in order to receive their containers.

Shortly before the start of the pandemic there was a slowdown in the container industry, and still today the biggest losers continue to be the shippers. There were major reductions in container shipping in February 2020 due to quarantines of port operations and manufacturing in China was halted.

“That was followed by a rash of canceled blank sailings in March and April as severe cutbacks in import demand emerged, as the economic impact on global business operations due to the virus came to fruition,” said Bruce Abbe, strategic adviser for trade and transportation. (A blank sailing refers to a sailing skipping one specific port while still traversing the rest of the scheduled route or the entire sailing being canceled.)

(Source: https://www.dtnpf.com/agriculture/web/ag/blogs/market-matters-blog/blog-post/2021/08/02/stb-chairman-expresses-concern-chain)

A Variety of Dry Beans Bought by USDA

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USDA has purchased dry beans for distribution to the child nutrition and other related domestic food assistance programs for Fiscal Year 2021. Included in the purchase are 77,280 CS of Great Northerns, 82,320 CS of ligh red kidneys and 458,560 CS of pintos. The total purchase is valued at more than $6.9 million.
 

Weekly Dry Bean Market Review

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USDA Market News reports most dry bean prices remain firm on mixed demand and minimal trade. Grower prices for black beans in North Dakota and Minnesota are at $40-to-$43 per hundredweight (cwt). Pinto bean prices are at $38-to-$41 per cwt. Navy beans are at $35-to-$38 per cwt. Dark red and light red kidney bean prices are at $44-to-$48 per cwt.