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Weekly Dry Bean Market Review

USDA Market News reports most dry bean prices the Min-Dak region unchanged from the previous week. Grower prices for black beans in North Dakota and Minnesota at $36-to-$40 per hundredweight (cwt). Pinto bean prices are at $36-to-$38 per cwt. Navy beans are at $33 per cwt. Dark red and light red kidney bean prices are at $44-to-$47 per cwt. Dry bean contracted product continues to move steadily. New trade remains light as many wait to estimate new crop yield, according to numerous industry contacts. Demand continues to vary as abnormally high temperatures and drought persist in many growing regions.
 

USDA to Purchase Nearly $160 Million in Dry Beans

USDA will purchase $159.4 million in domestically produced dry beans, lentils and other products under Section 32 of the Agricultural Adjustment Act. This is one action the agency is taking to address food supply chain disruptions because of the coronavirus pandemic. Specifically, the purchase includes $4 million in navy beans. Deliveries of the products are expected to begin in mid-August.

Weekly Dry Bean Market Review

Dry beans under contract are moving at a steady pace with current crop prices steady with moderate demand. According to report contacts, moisture is much needed in the state of North Dakota. USDA Market News puts the grower price for black beans in North Dakota and Minnesota at $35-to-$36 per hundredweight. Pinto bean prices are holding steady at $35 per hundredweight, and navies are at $32-33. Kidney bean prices remain at $41-to-$46 per hundredweight for lights and darks. View the May 11 report.

Northarvest Requests Fair Market Access for U.S. Dry Beans

FARGO, N.D. – In March, the U.S. Dry Bean Council (USDBC) sent letters to the honorable U.S. Trade Representative Katherine Tai and U.S. Department of Commerce Secretary Gina Raimondo to encourage fair market access of U.S. Dry Beans to Europe and the United Kingdom.

 
The dry bean industry is asking for relief around the 25% retaliatory tariffs that have been placed on U.S. dry bean exports to the EU and the UK in response to Section 232 Steel and Aluminum tariffs that were applied by the U.S.
 
This tariff is a direct hit on the U.S. dry bean exports across the Atlantic, with tariffs potentially increasing as of June 1. The Northarvest Bean Growers Association’s concern is the rapidness of this deadline and the possibility of increasing tariffs locking the U.S. out of these two markets.
 
The EU and UK market was expected to grow 2-4% per year until 2023. This increase is driven by European consumer’s interest in plant-based proteins. The UK is the largest importer of canned beans at 23% share of the European market.
 
The Northarvest region, covering North Dakota and Minnesota, accounts for 65% of dry bean planted acreage in the United States in 2021. Europe is the largest market for canned beans in the world accounting for 50% of the worlds’ imports. It goes without saying that the impact these tariffs have on the U.S. dry bean economy are unwelcome.
 
In efforts to urge regional legislators to support the reversal or mitigation of these tariffs, Northarvest has reached out to Sen. Amy Klobuchar (MN), Sen. Tina Smith (MN), Sen. John Hoeven (ND), Sen. Kevin Cramer (ND), Rep. Kelly Armstrong (ND), Rep. Jim Hagedorn (MN), Rep. Angie Craig (MN), Rep. Dean Phillips (MN), Rep. Betty McCollum (MN), Rep. Ilhan Omar (MN), Rep. Tom Emmer (MN), Rep. Michelle Fischbach (MN) and Rep. Pete Stauber (MN). 
 
Legislators are concerned for growers and committed to raising concern. Northarvest would like to thank Federal legislators from North Dakota and Minnesota for their strong support in overcoming trade politics.
 
“It’s important for growers to reach out and share their concerns regarding the tariffs,” said Kevin Regan, USDBC and Northarvest member. “Through collaborative efforts with legislators, I’m confident we can minimize the fallout over this detrimental block.”
 
With the encouraging positive advocacy from key legislators, Northarvest asks growers to contact your local representatives and voice support in addressing the EU and UK 25% retaliatory tariffs on exported dry beans.

Weekly Dry Bean Market Review

USDA Market News puts the grower price for black beans this past week was $27 to $32 per hundredweight (cwt). Pinto bean prices are holding steady at $30 per cwt. Navies are at $32 per cwt. Kidney bean prices increased to $40 to $46 per cwt for lights and darks. Dry beans under contract are moving at a steady pace with current crop prices steady with moderate demand. According to report contacts, rail cars (month out), trucks and containers are still difficult to source. Check out the April 13 report.

Weekly Dry Bean Market Review

The dry beans under contract are moving at a steady pace with current crop prices steady with moderate demand. According to report contacts, rail cars, trucks and containers are still hard to source.
 
USDA Market News puts the grower price for black beans this past week was $27 to $32 per hundredweight (cwt). Pinto beans range from $30 to $32 per cwt. Navies are at $32 per cwt. Kidney bean prices increased to $40 to $44 per cwt for lights and darks.
 

Weekly Dry Bean Market Review

The dry beans under contract are moving at a steady pace. According to report contacts, rail cars and containers are getting harder to source. USDA Market News puts the grower price for black beans this past week was $27 to $32 per hundredweight (cwt). Pinto beans range from $30 to $32 per cwt. Navies are at $32 per cwt. Kidney bean prices also remain steady at $34 to $43 per cwt for lights and darks. View the USDA Weekly Market Review for March 9.

Weekly Dry Bean Market Review

The dry beans under contract are moving at a steady pace. According to report contacts, railcars and containers are getting harder to source. USDA Market News says the grower price for black beans this past week was $27 to $30 per hundredweight (cwt). Pinto beans range from $29 to $32 per cwt. Navies are at $29 per cwt. Kidney bean prices also remain steady at $34 to $43 per cwt for lights and darks. View the USDA Weekly Market Review for February 9.

Weekly Dry Bean Market Review

SPECIAL NOTE: The next report will be released after the Christmas and New Year holidays on January 5, 2021. View the USDA Weekly Market Review from December 15.

Weekly Dry Bean Market Review

The dry beans under contract are moving at a steady pace with a firm undertone to prices. USDA Market News says the grower price for black beans this past week was $23 to $29 per hundredweight (cwt), unchanged from the previous week. Pinto beans are up at $24 to $30 per cwt. Navies are unchanged at $26 to $27 per cwt. Kidney bean prices also remain steady at $34 to $43 per cwt for lights and darks.
 
View the USDA Weekly Market Review for December 15. New report releases will resume after the Christmas and New Years holidays.