Tuesday, October 25, 2011

Dry Edible Bean Production Has Dropped Sharply

  • Driven by sharply lower planted area, the U.S. dry edible bean crop is forecast at 20.5 million hundredweight (cwt) this fall, down 36 percent from a year earlier.
  • With the exception of Washington, output is expected to decline from year-earlier levels for each of the 18 surveyed States.
  • The five largest producing States—North Dakota, Michigan, Nebraska, Minnesota, and Idaho—are collectively expected to account for 73 percent of the 2011 crop, down from 77 percent in 2010.

  • Assuming normal late summer and early fall weather, harvested area is expected to decline 35 percent from a year earlier to 1.19 million acres.
  • With continued strong corn and soybean prices likely plus dwindling dry bean stocks and good dry bean demand expected for this year’s small crop, aggregate dry bean prices will likely strengthen into mid-2012.

  • As a result of higher prices and exhausted stocks for most all classes, area planted to dry beans is expected to surge next spring to nearly 2 million acres.
  • During the first 10 months of 2010/11 (September-June), the volume of dry bean exports fell 1 percent from a year ago.
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