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. Kidney bean prices for Minnesota remain steady at $38 to $46 per cwt.
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 $28 to $35 per cwt. Kidney bean prices for Minnesota remain steady at $38 to $46 per cwt.
Speaking at an agriculture convention this week, Agriculture Secretary Sonny Perdue outlined the trade needs between the U.S. and Europe. Get the details in the Dry Bean Scene on the Red River Farm Network, made possible by the Northarvest Bean Growers Association.
Portions of northern North Dakota have moved into the severe drought. This is the first time this year these counties have been in the D2 or severe drought category. According to the U.S. Drought Monitor, the northern tier of counties is reporting delayed crop growth, poor pasture conditions and an increase in the culling of cattle herds. The northern half of North Dakota and extreme northwest Minnesota are dealing with abnormally dryness and moderate drought.
The new round of trade-related assistance totals $16 billion with $14.5 billion going to Market Facilitation Program payments. Rather than different rates for the various commodities, USDA Undersecretary Bill Northey said farmers will now be paid based on a single county rate. “The team has gone through and looked at the trade damage each county is feeling and we then divide that by the acreage planted within the county and will have a single payment, no matter which of the crops you plant.” This relief strategy is still being reviewed by OMB, but payments will be expedited. “The payments will come out in three different times of the year; we’re looking at a first payment coming out in July or August.” The second payment can be expected in November and the third will come in January. Agriculture Secretary Sonny Perdue said payments will likely be front-loaded, coming out shortly after the Farm Service Agency acreage reporting is wrapped up in mid-July. The first tranche of payments are the only ones guaranteed. The second and third tranches will be made if market and trade conditions are warranted.
Megan Myrdal with Northarvest Bean Growers Association was part of the Thrifty Thursday segment on North Dakota Today. Black Bean Salsa and Beautiful Bean Salsa were showcased as easy, stress-free recipe options. See the segment online here.