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Weekly Dry Bean Market Review

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USDA Market News reports trading of dry beans remains mostly light, though higher than recent reports, with good demand compared to last week.
 
For pintos, the grower price in Minnesota and North Dakota is $48-to-$50 per hundredweight. That’s steady to $2 higher. Black beans are steady to $1 higher at $48-to-$49. Navies are unchanged at $42 per hundredweight. Dark red and light red kidney bean prices remain steady at $44-to-$49 per hundredweight.
 
New crop prices for all pulses remain steady to firm. View the September 28 report.

Weekly Dry Bean Market Review

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USDA Market News reports trading of dry beans remains mostly light, though higher than recent reports, with good demand compared to last week. Grower prices for black beans in North Dakota and Minnesota remain at $48 per hundredweight. Pinto bean prices are up $3 this week to $48 per cwt. Navy beans are unchanged at $42 per hundredweight. Dark red and light red kidney bean prices remain steady at $47-to-$49 per hundredweight. New crop prices for all pulses remain steady to firm. View the September 21 report.

Weekly Dry Bean Market Review

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USDA Market News reports that trade remains mostly light, though higher than recent reports, with good demand compared to last week. New crop prices for all pulses remain steady to firm. Grower prices for black beans in North Dakota and Minnesota are at $45-to-$47 per hundredweight (cwt). Pinto bean prices are at $45 per cwt. Navy beans are at $42 per cwt. Dark red and light red kidney bean prices are at $45-to-$49 per cwt.

View the September 14 report.

Weekly Dry Bean Market Review

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USDA Market News reports that grower prices remains mostly light, though higher than recent reports, with mixed demand. New crop prices for all pulses remain steady to firm.
 
Grower prices for black beans in North Dakota and Minnesota are at $42-to-$47 per hundredweight (cwt). Pinto bean prices are at $42-to-$45 per cwt. Navy beans are at $37-to-$42 per cwt. Dark red and light red kidney bean prices are at $47-to-$48 per cwt.
 

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 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

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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

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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

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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

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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.