Volatility Returns

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Weather disrupts 2019 dry edible bean crop

Unprecedented. Disastrous. Stressful.

These are just some of the words that have been used to describe the 2019-2020 dry edible bean harvest. Just a couple of months ago everything was fine and dry bean prices had been steady although depressed. Then mother nature stepped in and delivered a relentless barrage of snow, continuous rains, warm temperatures, hail, and a deep freeze across the biggest dry edible bean producing states from North Dakota to Minnesota and Nebraska.

For several weeks, between late September thru November many dry bean dealers were “off the board” while the market evaluated the extent of the crop damage from bad weather. As the news began to spread dry bean participants began to realize things had gone from bad to worst to disastrous very quickly. Concerns about supply and demand started weighing on the market as prices reacted with a bump up, then a jump, and finally spiking. Pinto beans were the variety which had the most volatile reaction in terms of pricing. Wet weather has discolored much of the pinto harvest this year. For much of the 2018-2019 crop year, slow dark pintos did not receive a premium in the market versus conventional pinto and for that reason many growers decided not to plant the slow dark variety this year which turned out to be a bad move for those who didn’t.

This year light colored pinto beans will receive a premium in the marketplace. The question is though, how much will end users be willing to pay? It has been a long time since the market has seen pinto bean prices this high and consumers have been used to lower prices for quite sometime now. Will consumption slow? Where’s Mexico? Can we expect prices to go higher from here? The answer is probably, waiting, and they could. This is scary stuff people, if you need a minute to change into a clean set of your Duluth Trading underwear go for it.

Even the USDA is having a hard time finding out where prices stand as many dealers are reluctant to provide firm numbers. Last time I checked, not available (NA) seemed to be the most consistent offer by dealers, and those who are offering beans have adjusted pricing much higher.

What happens from here, no one really knows. The only thing for certain is volatility has returned to the dry edible bean market and participants will need to adjust.

2017-2018 Dry Edible Bean Prices: Where do we go from here?

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Yes… We are alive over here at http://www.drypintobeans.com! It’s been a quiet one this season, but we are alive and kicking now bean lovers! So…Where do we go from here? It’s a good question. Dry edible bean prices did not move much this season. Prices have remain subdued for various reasons. Slow export sales to Mexico and other Latin markets have been lackluster this year causing prices to be soft. The USDA weekly report has not provided any real insight into price action. Most dealers have been off the board for several weeks…now turning into months. Overall, things have been flat in a market that has been waiting for planting season to arrive so weather related issues could drive price action. Below are graphs of North Dakota and Michigan, both with opposite weather problems.

Two of the US’s largest dry edible bean growing States: North Dakota and Michigan are experiencing averse weather conditions. Western and Central North Dakota is suffering drought-like conditions and is in bad need of moisture, and the recent flooding in Michigan’s dry edible bean growing Counties of Huron, Bay, Midland, and Isabella is causing most dealers to be off the board until damage has been assessed properly. Needless to say, this is the first sign of real volatility the US dry edible bean industry has experienced all season. Growers are bullish for the first time in awhile and with Mother Nature coming into play late into the planting season, it looks like she will dominate the market’s price action until harvest.

Aside from weather problems influencing bean price action, Mexico, which is one of the US’s main export markets for dry edible beans has not been buying this season. Why? The Mexican Peso has been on the receiving end of US dollar strength since Trump took office and threatened to pull out of NAFTA. However, in the past several months the Mexican Peso has been gaining strength, and increasing Mexico’s purchasing power to buy beans from the USA. Below is a monthly chart of USD/MXN, current price is roughly 17.81 MXN Pesos for every 1 US dollar. USDMXN M1 (06-28-2017 1252)

That being said, Mexico’s purchasing power has been quietly increasing for the past few months. Perhaps by the time new crop dry edible beans are ready to be harvested, the Peso will be stronger and Mexico will step back into the US market to purchase.

Circling back to the original question asked: Where do we go from here, who really knows? But losing acreage to soybeans, present averse bean growing weather conditions, insurance deadlines, and a lack of offers from growers is potentially setting the stage for “the perfect storm” in certain dry edible bean varieties.

Looking above at prices for Black beans from Michigan and North Dakota, we can see a historical price average for each month going back to 2011-2012.  The 2015-2016 season was the lowest prices on black beans being offered from dealers and growers, which can be viewed as bottom in prices going back eight years. This is pretty significant because dry edible bean prices do not typically spike or drop in a short matter of time unless catastrophic weather or outside markets influence price action. However, given the fact two of the largest US bean producing states are experiencing averse weather conditions and the largest importer of United States dry edible beans has continued to gain purchasing power; industry participants should wake up and smell the bean dust!

The 2017-2018 dry edible bean planting season is off to a volatile start. Should averse weather conditions continue to influence this year’s dry edible bean crop and Mexico’s Peso continue to strengthen, we could have a recipe which would create “the perfect storm” for black bean and pinto bean prices to surge. These two varieties seem to be positioned best for an upside move based on today’s market conditions; whereas other bean varieties do not have as much bullish potential from the volatility currently being experienced.

Bottom line: It’s still way too early to fully calculate the extent of the weather damage across State lines, but dry edible bean bulls have the conn right now.

Recent update dated July 5, 2017 from Michigan Bean Commission Leader Joe “The Man”‘Cramer… (Not to be confused with Mad Money’s “Jim Cramer”… Joe is better)

I asked some agronomy folks to give me a couple of comments on the dry bean crop in their respective areas this morning.  Thought I’d share the feedback I received…

 

  • Just looked at some more this morning. For the most part stands are fair to good depending on planting time. I think most of the growers I work with finished 7 to 10 days ago. We have beans we have sprayed, with cultivation starting and beans just coming through. The roots look good so far, very little root rot showing up (so far)

 

  • In the Richville/Reese/F’muth area most of the beans are struggling due to the rains of the past few weeks, but nothing bad enough to replant.  Post herbicide applications are taking place this week.  Of course, there are drowned out holes, but in general I would consider the beans to be much better than most had expected.  We are dealing with some root rot issues with many growers attempting to foliar feed to help them along while they generate new roots. The replants (due to seed issues) seem to look the worst, as they were replanted right before the rain started.  Any beans that were well established prior to the rain seems to have taken it pretty well.

 

  • Our crop condition is all over the board.  We have had to do some replanting due to the wet soil conditions.  Some are just starting to plant for the first time because it was too dry, and then too wet!  I took a ride out to Caseville yesterday – there are a lot of holes in fields out that way.  Post weed control application has begun.  If I had to sum it up in one word, our crop is “Fair.
  • Michigan Bean Commission | 516 South Main Street, Suite D, Frankenmuth, Michigan  48734 | 989.262.8550

Brazil Buys Pinto Beans

Bom dia! (That means good morning in Portuguese!)

Como você está? (how are you?)

Dry Pinto beans is doing grrrrrreeeeeat!!! Thanks for asking! It’s been quite a season for the pinto bean lovers out there, things started off a bit rocky with prices scrubbing the floor for the first few months…..But now – things are more like:

I got ants in my pants

And I need to dance

Come on

– James Brown

So there you have it in three simple lines. The pinto bean market has had it’s up’s, down’s, and up’s again. Prices are back to higher levels and growers can appreciate that. There’s bean a good steady flow of pinto bean exports into the Caribbean markets and America’s this year. Consumers kept consuming beans in all forms from traditional cooked beans to healthy familiar snacks like “Beanitos”, to tortillas made of beans or pulses. Yup, the International Year of Pulses #IYP2016 has really bean positive from every angle. Gotta love it when things go to plan and the future looks bright.

You want to know what we see when we look out there in this beautiful #beanbig world? We see people everywhere eating the foods they love (like beans) and that are good for their bodies.  We see new USA dry edible bean export markets reaching out as far as the eye can see. From Colombia to Cuba, and now coming to a theater near you in Brazil. Yes sir, things are gonna get popping like Orville Redenbacher on a Saturday night.

Brazil’s national bean is the Carioca bean, and this year bad weather disrupted the Carioca bean supply tremendously. Supply and demand physics shot Carioca prices up with the power of a rocket to the point where the average price in reals (Brazil’s currency) has reached $1.35 per pound. Anyone who knows anything about Brazil knows THIS IS the bean variety the Brazilian people can’t live without! Seriously! No joke! Not kidding! Not even playing! Ever. Got it?

Brazilians have it rough lately with a disastrous bean crop, outbreak of Zika, the Petrobras scandal,  a presidential impeachment, and preparing for the 2016 Summer Olympics in Rio. To make a long story short, Brazil now has a major shortage of Carioca beans and the Brazilian government has allowed imports from a list of bean growing countries; which includes the United States of America (Gotta love that part).

THIS IS REALLY EXCITING STUFF PEOPLE! The reason this is so exciting is the Carioca bean variety is extremely similar to USA pinto beans. The look, feel, and taste is very recognizable in both types of bean varieties. This has presented an opportunity for the US dry edible bean industry to export beans to Brazil.

If the Brazilian public accepts USA pinto bean values and accepts it’s taste versus their own national Carioca bean variety- then anything is possible. Now here’s the funny bit… The word “pinto” in Portuguese means pecker! Which might be a reason why pinto beans sales haven’t had much success in Brazil previously. Can you imagine the average Brazilian consumer in their local supermarket shopping for beans and glancing over at the newly imported USA package labeled schlong beans? You could see why the name would probably stunt sales growth.

The Brazilian government & food importers have had quite a task coming up with a new name to market pinto beans which would cross over well in Portuguese.  We do think they have managed to figure out a good name for pintos in Brazil. The new name will refer to the  capital city of the State of Sao Paulo Brazil.

Now for the real exciting part! Drum roll please!……… Dry Pinto Beans like to say thank you to Captain Nick and the dedicated pinto bean growers in North Dakota for helping us export the first containers this season of United States pinto beans from North Dakota to Brazil! Way to go everyone!!!

Brazil importers made their purchase of:

2015-2016 US#1 F.Garcia Brand Limited Harvest Slow Dark Pinto Beans 100lbs.IMG_4149F.Garcia Limited Harvest Slow Dark Pinto Beans

 

and: 2015-2016 US#1 F.Garcia Triple Cleaned Pintos BeansF.Garcia Pinto Beans Original Bag 50 LB (1)

Bottom line: From all of us here in the USA, Obrigado Brazil! (Thank you Brazil)!

Now let’s Samba!

(A Brazilian dance style)

brazil flag

 

Brazil Buys Pinto Beans

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2015 Dry Edible Bean Market Summary

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Bean Prices Go Back To The Future

The United States Department of Agriculture has published their annual dry edible bean market summary. The report is quite lengthy and we will not be commenting on it’s entirety, just the meat and potatoes part. Please click here to view a portion of the 2015 Dry Edible Bean Summary. Starting with the first chart we can see North Dakota and Minnesota dealer monthly average prices over the past five years. We have highlighted in pink the highest prices offered by dealers and highlighted in yellow the lowest prices.

So going back to the 2011-2012 dry edible bean season you can plainly see prices hitting all time highs…peaking out about $61-62 dollars /CWT, FOB – North Dakota / Minnesota. Since then, price action has trended downward towards the lows at about $25 / CWT. On the second chart we take a look at Northern Colorado dealers and the values extracted during the 2011-2012 season. Rocky mountain dealers were about $3-$5 higher than the peak values of their competitors in the Upper Midwest. However, price action has also trended lower from the lofty $60’s down towards current values to just above $30.

The last two pages I have attached to this post show monthly prices for each crop year (previous 5 years) on pinto beans, great northerns, black beans, pink beans, and garbanzo. Remember the pink highlighted numbers indicate the highs and the yellow highlighted prices indicate the lows.

Now go back to the first two charts showing pinto bean prices over the past five years. This is actually a beautiful chart to look at (depending on your perspective of course). At the moment, pinto bean growers are probably puking when they see this chart because of where pinto bean prices are currently trading at, but…had this chart been back in 2011-2012 and shown the previous five dry edible bean market years from 2006 through 2012.. it would be the most beautiful looking price chart any pinto bean grower could ever want to see! (No matter where prices trade at, perspective is always different)

The reason the chart is beautiful is not because prices are low now, but because it’s so obvious to see all time high’s versus all time low’s. The big ginormous gap in the middle between the low’s and high’s is where pinto bean growers can expect prices to get back to the future. The reason growers can expect pinto bean prices to go higher (not necessarily in the short term) but in the long term is because of a mathematical phenomenon known as “mean reversion” which happens in every market on earth…no matter what type of commodity is being discussed or traded.

What is the ‘Mean Reversion’

The mean reversion is the theory suggesting that prices and returns eventually move back towards the mean or average. This mean or average can be the historical average of the price or return or another relevant average such as the growth in the economy or the average return of an industry. Read more: Mean Reversion Definition | Investopedia http://www.investopedia.com/terms/m/meanreversion.asp#ixzz40Xk7gaf0

Bottom line: That being said, it’s obvious to anyone who is not ignorant prices will revert back to their proper averages in given time. The only uncertainty is when and how fast prices will revert back.

For the entire United States Department of Agriculture’s Dry Edible Bean Summary please visit this link USDA 2015 Dry Edible Bean Summary.

 

 

 

 

Houston…We’re ready for liftoff!

/ Vitto

Dry Bean Prices Firm Up

Happy 2016 everyone! We’re back in the saddle again after a nice long break with the holidays and new year. Dry bean prices have been soft lately and do seem to have touched the bottom in terms of price by taking a look at dealer prices this week. This week was the first time bean varieties have moved upward since the start of 2016. The big winners were pinto beans and lentils in terms of price action. Pinto dealers out of the rocky mountain region decide enough was enough and bumped up the bid by $2, and the ask by about a buck.

Mindak pinto dealers also nudged up $0.50 per CWT while Pacific dealers felt good about raising bid/ask for a $1. Lentils on the other hand saw continued strength from growers jumping up by $4-$6 per CWT on brewers and pardina varieties. The reason for the jump in lentils is simple, demand has skyrocketed and grower prices continue to set new records. Export markets to India, Turkey and Middle East have increased their consumption rate by almost one quarter the past 8 years. Many of you already know 2016 has been declared International Year of Pulses (IYOP). The United Nations declaration is to bring awareness to the world about the nutritional benefits of consuming pulses. In comparison with animal protein, pulse-based protein is much cheaper.

Navy beans also saw a nice $2 surge north bound as dealer bids averaged about $31 per CWT. Chickpeas on the other hand saw dealer bids drop by $3 to $39 per CWT versus being at $42 the previous week.

So where do bean and pulse prices go from here? No one knows yet. The Mexico dry bean crop has some uncertainty due to frost and quality concerns. If harvest yields are less than expected in January then there is a good chance Mexico will have to import any shortages they may experience. This would provide support to pinto and black bean growers and give them the chance to continue rebounding in price.

Speaking of black beans…prices haven’t been this low since dinosaurs roamed the earth millions of years ago. Some of you were probably alive back then and can remember (or maybe not by now), but due to the amount of blacks this year in the market prices have fallen well below grower comfort zones. Thus causing talk about an acreage reduction of  anywhere between 15%-25% in certain growing areas of the US going into next year. If that does come to fruition then market participants might be sorry by not taking a second mortgage and buying more black beans today.

Bottom line: Might be a good time to start considering building a portfolio in certain varieties for next year.

Continue reading →

Slow Dark Pinto Beans Arrive

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Slow Dark Pinto Beans

For several years, the dry edible bean industry has been trying to develop a pinto seed variety that is resistant to light and slow it’s natural darkening process. When pinto bean buyers choose their products, they typically choose the lightest colored beans. This is the reason why pinto bean dealers (although they might not like to admit it) have been trying to create a new pinto bean seed variety that stays brighter + whiter longer (and would also have good yield in the field).

Mother nature intended for pinto beans to darken over time to a brownish color. However, it’s tougher selling a darker pinto bean than selling a brighter pinto bean when it comes to certain markets. When pintos are first harvested they are typically much lighter in color, but as the days + weeks + months pass pinto beans naturally darken due to exposure to light + heat + the natural elements. Please note: The darkening process does not affect the nutritional properties of the pinto beans, it only changes it’s color to a darker tone.

Dry edible seed companies & the leading agricultural schools in certain state universities have been busy in the lab (and fields) trying to splice and dice the perfect pinto bean so it’s color does not darken as quickly. After several years of hard work it seems the dry edible bean industry has achieved a new pinto bean variety which stays much brighter than other pinto seed varieties. This new pinto variety is called “slow dark” pinto beans. They have been recently tested in Florida and other locations in the United States to see how it performs against other pinto seed varieties such as La Paz & Wind Breaker.

Dry Pinto Beans has been able to attain some photographs from friends of ours who conducted the “slow dark” pinto bean trials and the results were very impressive! 

In the link below there are photos of 3 different pinto bean varieties: La Paz, Wind Breaker, and Vibrant (which is now called “slow dark pintos” or “SD” for short). As you can see, the vibrant variety (slow dark) is much lighter than it’s cousins – Wind Breaker & La Paz. Take a look at the results and click the link below to view for yourself.

2010, 2011, and 2013 Seed Photos of Windbreaker, Vibrant, and La Paz

Dry Edible Bean Area Planted

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USA Dry Edible Bean 2015-2016 Crop Production Numbers

Dry Edible Bean Area Planted, Harvested, Yield, and Production – States and

United States: 2014 and Forecasted October 1, 2015

——————————————————————————–

:         Area planted          :        Area harvested

State     :—————————————————————

:     2014      :     2015      :     2014      :     2015

——————————————————————————–

:                          1,000 acres

:

Arizona 1/ …..:       11.0             9.0            10.9             8.9

California …..:       48.0            43.0            47.5            42.5

Colorado …….:       46.0            49.0            44.0            46.0

Idaho ……….:      125.0           120.0           124.0           119.0

Kansas ………:        7.5             7.0             6.9             6.5

Michigan …….:      250.0           270.0           245.3           266.0

Minnesota ……:      155.0           190.0           148.0           182.0

Montana 1/ …..:       37.5            46.0            37.0            45.0

Nebraska …….:      165.0           140.0           152.0           129.0

New Mexico 1/ ..:       10.5            12.5            10.5            12.4

:

New York …….:        8.0             8.0             7.7             7.8

North Dakota …:      630.0           660.0           615.0           645.0

Oregon 1/ ……:        8.5            10.0             8.5            10.0

South Dakota …:       14.0            12.5            12.9            11.7

Texas ……….:       23.0            31.0            21.0            28.0

Washington …..:      130.0           110.0           129.0           109.0

Wisconsin 1/ …:        7.9             7.9             7.9             7.9

Wyoming ……..:       42.0            31.0            37.6            29.5

:

United States ..:    1,718.9         1,756.9         1,665.7         1,706.2

——————————————————————————–

:       Yield per acre 2/       :         Production 2/

State     :—————————————————————

:     2014      :     2015      :     2014      :     2015

——————————————————————————–

:      ——- pounds ——          —— 1,000 cwt —–

:

Arizona 1/ …..:      1,940           1,950             211             174

California …..:      2,190           2,200           1,040             935

Colorado …….:      1,900           2,300             835           1,058

Idaho ……….:      1,800           1,800           2,232           2,142

Kansas ………:      1,710           1,700             118             111

Michigan …….:      1,940           1,900           4,749           5,054

Minnesota ……:      1,950           1,950           2,887           3,549

Montana 1/ …..:      1,630           1,800             603             810

Nebraska …….:      2,500           2,300           3,800           2,967

New Mexico 1/ ..:      1,900           2,100             200             260

:

New York …….:      1,490           1,900             115             148

North Dakota …:      1,430           1,200           8,795           7,740

Oregon 1/ ……:      2,260           2,300             192             230

South Dakota …:      1,880           2,050             243             240

Texas ……….:      1,220           1,150             256             322

Washington …..:      1,500           1,400           1,935           1,526

Wisconsin 1/ …:      2,480           2,500             196             198

Wyoming ……..:      2,130           2,200             799             649

:

United States ..:      1,753           1,648          29,206          28,113

——————————————————————————–

2015 US Dry Bean Acreage and Production

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2015 dry bean projections

The above attached report is D.W. Sturts latest recap of dry bean production in North America.  The lastest figures were derived from the USDA planning report released earlier on Thursday.  Along with the USDA acreage and production numbers the team from D.W. Sturt included the estimated Canadian acreage and production estimates derived from trade estimates in Canada.

They have taken the planted acreage and factored each state in order to get a projected harvested acreage number.  Also taken into account is the adjusting of average yields in Washington and Idaho to get a more accurate yield picture since the USDA combined bean production is mixed in with Chick pea production, which has a way of distorting the true yield potential for dry beans.

The average yield in North Dakota was reported @ 14.0/cwt per acre. While D.W. Sturt & Co. reported the average yield at 1400 lbs per acre, they happen to believe the number is slightly low compared with yearly averages closer to 15-15.5/cwt per acre.

Dry Pinto Beans would like to give credit and thanks to dry bean analysts and commodity brokers D.W. Sturt & Co., which are industry leaders and take great pride in their work. We would like to thank Dan, Boone, Kim and the whole team at D.W. Sturt for their insight!

United States Department of Agriculture Crop Production

/ Vitto

USDA CROP PRODUCTION UPDATE

Dry Edible Bean Area Planted and Harvested, Yield, and Production – States and United States:

2014 and Forecasted August 1, 2015

———————————————————————————————–

:   Area planted    :  Area harvested   : Yield per acre 1/ :   Production 1/

State     :——————————————————————————-

:  2014   :  2015   :  2014   :  2015   :  2014   :  2015   :  2014   :  2015

———————————————————————————————–

: ———— 1,000 acres ————    —- pounds —    — 1,000 cwt —

:

Arizona …….:    11.0       9.0      10.9       8.9    1,940     1,950       211       174

California ….:    48.0      43.0      47.5      42.5    2,190     2,300     1,040       978

Colorado ……:    46.0      46.0      44.0      43.0    1,900     1,700       835       731

Idaho ………:   125.0     130.0     124.0     129.0    1,800     1,700     2,232     2,193

Kansas ……..:     7.5       8.0       6.9       7.5    1,710     1,900       118       143

Michigan ……:   250.0     250.0     245.3     246.0    1,940     1,900     4,749     4,674

Minnesota …..:   155.0     190.0     148.0     182.0    1,950     2,000     2,887     3,640

Montana …….:    37.5      46.0      37.0      45.0    1,630     1,800       603       810

Nebraska ……:   165.0     150.0     152.0     139.0    2,500     2,400     3,800     3,336

New Mexico ….:    10.5      12.5      10.5      12.4    1,900     2,100       200       260

:

New York ……:     8.0       8.0       7.7       8.0    1,490     1,900       115       152

North Dakota ..:   630.0     650.0     615.0     635.0    1,430     1,400     8,795     8,890

Oregon ……..:     8.5      10.0       8.5      10.0    2,260     2,300       192       230

South Dakota ..:    14.0      12.0      12.9      11.2    1,880     2,050       243       230

Texas ………:    23.0      29.0      21.0      26.0    1,220     1,050       256       273

Washington ….:   130.0     120.0     129.0     119.0    1,500     1,500     1,935     1,785

Wisconsin …..:     7.9       7.9       7.9       7.9    2,480     2,500       196       198

Wyoming …….:    42.0      31.0      37.6      29.5    2,130     2,000       799       590

:

United States .: 1,718.9   1,752.4   1,665.7   1,701.9    1,753     1,721    29,206    29,287

———————————————————————————————–

1/ Clean basis.

 

Dry Edible Bean Area Planted by Commercial Class – States and United States:

2014 and Forecasted August 1, 2015

——————————————————————————-

Class and State  :  2014  :  2015  ::    Class and State  :  2014  :  2015

——————————————————————————-

:   1,000 acres   ::                     :   1,000 acres

:                 ::                     :

Large lima          :                 :: Light red kidney    :

California ………:   8.1     10.7  :: California ………:   1.9      0.9

:                 :: Colorado ………..:   5.6      8.0

Baby lima           :                 :: Idaho …………..:   1.7      2.1

California ………:  14.9      5.9  :: Michigan ………..:  11.3      9.1

:                 :: Minnesota ……….:  17.2     23.7

Navy                :                 :: Nebraska ………..:  12.2     22.0

Idaho …………..:   1.5      2.5  :: New York ………..:   3.7      3.2

Michigan ………..:  82.0     69.0  :: Oregon ………….:   0.9      0.9

Minnesota ……….:  50.4     47.6  :: Washington ………:   3.6      2.3

Nebraska ………..:    1/      0.8  ::                     :

North Dakota …….: 107.0    104.0  :: United States ……:  58.1     72.2

Oregon ………….:    1/      1.0  ::                     :

South Dakota …….:   5.2      1.2  :: Dark red kidney     :

Washington ………:   1.1      0.8  :: California ………:   1.4      3.0

Wyoming …………:   0.5      1.0  :: Idaho …………..:   1.5      1.8

:                 :: Michigan ………..:   3.3      4.2

United States ……: 247.7    227.9  :: Minnesota ……….:  39.9     55.5

:                 :: New York ………..:   1.4      2.4

Great northern      :                 :: North Dakota …….:   1.7      3.1

Idaho …………..:   4.0      4.1  :: Oregon ………….:    1/      0.8

Nebraska ………..:  76.0     36.0  :: Washington ………:   3.5      3.1

North Dakota …….:  10.3      4.8  :: Wisconsin 2/ …….:   6.6      7.9

Wyoming …………:  13.5      2.0  ::                     :

:                 :: United States ……:  59.3     81.8

United States ……: 103.8     46.9  ::                     :

:                 :: Pink                :

Small white         :                 :: Idaho …………..:   6.0      6.7

Idaho …………..:   2.3      1.8  :: Minnesota ……….:   4.3      4.2

Oregon ………….:    1/      1.4  :: North Dakota …….:  11.1      9.6

:                 :: Oregon ………….:    1/        –

United States ……:   2.3      3.2  :: Washington ………:   1.0      0.5

:                 ::                     :

Pinto               :                 :: United States ……:  22.4     21.0

Arizona …………:   4.8       1/  ::                     :

Colorado ………..:  35.0     32.0  :: Small red           :

Idaho …………..:  19.0     25.0  :: Idaho …………..:   8.0     10.0

Kansas ………….:   5.5      6.3  :: Michigan ………..:  20.0     25.1

Michigan ………..:   2.0      2.0  :: North Dakota …….:   2.7      7.4

Minnesota ……….:   9.8     11.0  :: Washington ………:   4.0      6.6

Montana …………:   6.0      5.0  ::                     :

Nebraska ………..:  71.0     83.0  :: United States ……:  34.7     49.1

New Mexico ………:  10.5     12.5  ::                     :

North Dakota …….: 404.0    363.0  :: Cranberry           :

:                 :: California ………:   0.8      0.4

Oregon ………….:   1.0      2.0  :: Michigan ………..:   4.0      5.3

South Dakota …….:   2.9      2.4  ::                     :

Washington ………:  12.0     11.7  :: United States ……:   4.8      5.7

Wyoming …………:  24.8     23.0  ::                     :

:                 ::                     :

United States ……: 608.3    578.9  ::                     :

——————————————————————————-

See footnote(s) at end of table.                                    –continued

 

Dry Edible Bean Area Planted by Commercial Class – States and United States: 2014 and Forecasted

August 1, 2015 (continued)

———————————————————————————————————

Class and State      :   2014    :   2015    ::       Class and State      :   2014    :   2015

———————————————————————————————————

:      1,000 acres      ::                            :      1,000 acres

:                       ::                            :

Black                      :                       :: All chickpeas (Garbanzo)   :

Idaho …………………:      1.4         3.5  :: California …………….:      9.3         7.7

Michigan ………………:    120.0       128.5  :: Idaho …………………:     74.0        70.0

Minnesota ……………..:     23.4        35.2  :: Montana ……………….:     31.5        41.0

Nebraska ………………:      3.7         4.0  :: Nebraska ………………:        –         0.2

New York ………………:      1.9         1.6  :: North Dakota …………..:      6.4         7.7

North Dakota …………..:     80.0       142.0  :: Oregon ………………..:      1.1         1.0

Oregon ………………..:      0.8         1.3  :: South Dakota …………..:      2.8         4.3

Washington …………….:      5.0         6.3  :: Washington …………….:     90.0        84.0

:                       ::                            :

United States ………….:    236.2       322.4  :: United States ………….:    215.1       215.9

:                       ::                            :

Blackeye                   :                       :: Other                      :

Arizona ……………….:      2.4          1/  :: Arizona ……………….:      3.8         9.0

California …………….:      6.4         8.2  :: California …………….:      5.2         6.2

Texas …………………:     21.5        27.5  :: Colorado ………………:      5.4         6.0

:                       :: Idaho …………………:      5.6         2.5

United States ………….:     30.3        35.7  :: Kansas ………………..:      2.0         1.7

:                       :: Michigan ………………:      7.4         6.8

Small chickpeas (Garbanzo, :                       :: Minnesota ……………..:     10.0        12.8

smaller than 20/64 inches) :                       :: Montana ……………….:        –           –

Idaho …………………:     29.0        32.0  :: Nebraska ………………:      2.1         4.0

Montana ……………….:      (D)         (D)  :: New York ………………:      1.0         0.8

North Dakota …………..:      2.0         5.3  :: North Dakota …………..:      6.8         8.4

Oregon ………………..:      (D)         (D)  ::                            :

South Dakota …………..:      (D)         (D)  :: Oregon ………………..:      4.7         1.6

Washington …………….:     22.0        28.0  :: South Dakota …………..:      3.1         4.1

:                       :: Texas …………………:      1.5         1.5

Other States 3/ ………..:     13.8        16.0  :: Washington …………….:      9.8         4.7

:                       :: Wisconsin ……………..:      1.3           –

United States ………….:     66.8        81.3  :: Wyoming ……………….:      3.2         5.0

:                       ::                            :

Large chickpeas (Garbanzo, :                       ::                            :

larger than 20/64 inches)  :                       :: United States ………….:     72.9        75.1

California …………….:      9.3         7.7  ::                            :

Idaho …………………:     45.0        38.0  :: All dry edible beans       :

Montana ……………….:      (D)         (D)  :: United States ………….:  1,718.9     1,752.4

Nebraska ………………:        –         0.2  ::                            :

North Dakota …………..:      4.4         2.4  ::                            :

Oregon ………………..:      (D)         (D)  ::                            :

South Dakota …………..:      (D)         (D)  ::                            :

Washington …………….:     68.0        56.0  ::                            :

:                       ::                            :

Other States 3/ ………..:     21.6        30.3  ::                            :

:                       ::                            :

United States ………….:    148.3       134.6  ::                            :

———————————————————————————————————

–   Represents zero.

(D) Withheld to avoid disclosing data for individual operations.

1/  Data are included in the “Other” class to avoid disclosing data for individual operations.

2/  Includes some light red kidney to avoid disclosure of individual operations.

3/  Includes data withheld above.

Floods in Durango Mexico Threaten Pinto Bean Acres

/ Vitto

Flood Damages Pinto Bean Acres, Assessment Remains

The United States Dry Bean Council provided a recent update on the floods in Durango-Mexico, which is one of the largest Mexican pinto bean growing regions. Reports indicate up to 100,000 acres have been planted of pinto beans #Saltillo and damage assessments are in progress. 10 different municipalities have been affected by the floods and soil conditions are extremely poor. With only 3 weeks left to replant damaged pinto bean acres, Domestic Mexican consumption and supply issues will be front & center for industry participants in the coming weeks. United States pinto bean growers, processors, and exporters are expected to attend more church in the coming days if the flood damage assessment comes back more negative and soil conditions do not improve in time for replanting.

Michigan Black Beans Versus North Dakota Black Beans

This week the United States Department of Agriculture released it’s weekly dry edible bean release with surprising data on Michigan black beans. As I was looking through the report and making my notes, I happened to notice Michigan black beans and North Dakota blacks were at parity. I have never seen North Dakota black beans above value over Michigan black beans, or even at parity! Historically speaking, Michigan black beans carry a premium over North Dakota blacks every year due to the growing conditions in Michigan which produces a very tender black bean. However, this year Michigan black beans have become scarce (at the moment) and it seems North Dakota has decided to ride Michigan’s coat tail into higher black bean prices (which I can’t blame them for). Black bean acres in North Dakota were a bit shy from their projected United States Department of Agriculture estimates earlier in the season, perhaps this could be a reason for the pop in prices this week…or maybe not.

One of the favorite meals in our house is pork loin served with white rice, salad and of course… black beans (just blogging about it makes my mouth water and opens up my appetite). Before you ask, yes. Our family uses Michigan black beans when cooking because we simply prefer Michigan black beans over North Dakota blacks. Michigan black beans are more tender in it’s raw uncooked state versus their North Dakota cousins due to the different growing conditions in both places. Michigan black beans will typically cook faster and should be softer when chewing versus North Dakota black beans.

So where are we heading with all this yip-yap on black beans? Oh yes, I remember now, it’s about parity. Should North Dakota black beans be the same price as Michigan black beans? Well…. that would depend on who is being asked the question. If your a grower from North Dakota, perhaps the answer would be yes they should be; however, if you ask a Michigan black bean grower then answer would probably be different.

I think the million dollar question should be explored further by way of “The Famous Michigan Vs North Dakota Black Bean Cook Off”!

-Okay, so technically there is not “a famous” black bean cook off…….yet!

But don’t worry folks, we have plenty of time to establish the first one in 2015! More to come on that later!

The USDA is not going to post any new prices until after the new year as most dry bean & pulse industry participants are getting ready for CHRISTmas and the holidays. Everyone needs time off during the year to wind down, spend time with their families, friends, and just enjoy life! This will leave the dry bean and pulse market “as is” until everyone is back from vacation next year (about 2-3 weeks).

I am posting my wife’s “truly famous” black bean recipe so you can try it for your next delicious family dinner, just follow the pictured instructions and enjoy!

As for me, I too will be on hiatus to enjoy my family, friends, and celebrate the reason for the season!

Dry Pinto Beans wants to wish everyone a very Merry CHRISTmas and Happy Holiday Season! We look forward to a healthy, prosperous, and exciting 2015 with all of you!

Sort Beans

Soak Beans

Soak Beans

Michigan Black Beans

Pressure Cook Beans

Chop Onion

Chop Onion

Chop Garlic

Chop Garlic

Add Canola Oil in Frying Pan

Add Canola Oil in Frying Pan

Stir & Cook

Stir & Cook

Golden Brown

Golden Brown

Cooked Beans

Pressure Cooked Beans

Add Cooked Onions & Garlic

Add Cooked Onions & Garlic

Add 1-2 Bay Leaves

Add 1-2 Bay Leaves

Boil Again for 10 mins

Boil Again for 10 mins

Michigan Black Beans

Serve Beans & Enjoy!

Michigan Black Beans At Parity Against North Dakota

/ Vitto

Kansas Pinto Beans Hold Their Own!

/ Vitto

Kansas Pinto Beans Rock Solid

2014 new crop Kansas pinto beans are looking rock solid this year! Growers out of Western Kansas can be proud of this year’s harvest. Dry Pinto Beans was fortunate enough to receive some Kansas pinto bean samples this week from a contact of ours and were pleased with what we saw. Color is what you would expect to find out of the Rocky Mountain growing region and a bit on the lighter side when compared to last year’s color. We would like to take the time and celebrate the processing quality on the samples given to us. It was the cleanest pinto bean processing we have seen this year from all the samples we have featured. Way to go guys great job! Dry Pinto Beans would like to say thank you to Kansas pinto bean growers and the processors for all their hard work this season. We are very glad you submitted these good looking samples so everyone can see what a fine job was done!

Kansas Pinto Beans  Kansas Pinto Beans

Weekly Weather and Crop Bulletin

/ Vitto

Hello everyone, from now on the weekly weather and crop bulletin will be provided as a post and no longer its own page.

This week’s summary:

Seems its going to be a good and long ski season as a mass of air with frigid temperatures and snow dominated most of the central, eastern, and northwest USA this week. Only California, Texas, and Florida performed mission impossible to stay above sub-artic temperatures. Residents in these states were spared the bad weather as weekly weather temperatures were below normal for much of the US. Upper Midwest and Pacific Northwest.

Unfortunately California continues to suffer with a category D4 exceptional drought classification. Agriculture in California is the state’s largest economy and also largest consumer of water. California’s produce, almond, and nut producing companies will have a very difficult year due to the seriousness of the current drought.

For the complete report please click on the link below.

Click to access weather_weekly-11-18-2014.pdf

Pinto Bean Growers In North Dakota Shine

/ Vitto / Leave a comment

North Dakota Pinto Beans Deliver

Happy Monday buckaroos we’re back in bean-saddle here and ready to go! We’ve been waiting patiently to see what North Dakota pinto bean growers were going to sow this season and the wait is finally over…Last Friday, we were baptized with our first LOT of 2014 North Dakota pinto beans from one of the finest shippers in the industry, and we were quite pleased with the results of all their hard work. We think the market is going to be excited and satisfied with this year’s pinto bean crop!

Thanks team!

**Now, if we could only get the Minnesota Vikings to win some football games we could get things rocking & rolling this season!

Pinto Bean Box Car

2014 Pinto Beans

New Crop Pinto Beans

2014 Canadian Pinto Beans Ready for Export

/ Vitto

Canada Debuts 2014 New Crop Pinto Beans

2014 Canadian Pinto Beans are making a special late week appearance here at DRY PINTO BEANS!

Friends of ours from the massive bean & pulse growing provinces of Alberta and Saskatchewan Canada were kind enough to send us two distinct new crop pinto bean samples for review.

New Crop Pinto Beans

2014 Canadian New Crop Pinto Samples Arrive

We are very appreciative to all the producers who send us their hard-earned harvest samples from the different pinto bean growing areas where they live and work. Each origin of pinto reflects unique characteristics distinguished by the type of pinto seed variety used for planting, it’s color, seed size, moisture, resilience, and yield potential that must be taken into account for. Following those considerations, the next most important factor is processing technology-machinery being used on the raw product which must result in clean & consistent pinto beans.

*Please note these pictures were taken without any camera filters.

Canadian Pintos

2014 Saskatchewan Canada Pinto Beans

 

2014 Pinto Beans Alberta

2014 Alberta Canada Pinto Beans

 Interested in originating 2014 Canadian Pinto Beans, please fill out the contact form.

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2014 New Crop Pinto Beans

/ Vitto

2014 Rocky Mountain New Crop Pinto Beans

Today we’re featuring 2014 New Crop Pinto Beans from friends of ours growing in the Rocky Mountain Region. This morning the FedEx delivery guy appeared like Santa Claus at our office with samples of these good colored pinto beans, it feels like Christmas came early this year. Thank you for sending us these beautiful pinto beans guys!

We are looking forward sharing these pinto beans with buyers across the world.

 

Rocky Mountain Region Pinto Beans

2014 New Crop Pinto Beans

Rocky Mountain Region Beans

2014 New Crop Pintos

Western Nebraska 2014 Pinto Bean Harvest in Full Swing!

/ Vitto

Western Nebraska 2014 Pinto Beans Getting Combined

The 2014 dry edible bean crop harvest is in full swing this week across the country. Great weather conditions have permitted growers to get into their fields and start combining their harvest so they can get it to local elevators for weighing and processing. This week’s pictures are courtesy from friends of ours in Western Nebraska where growers are excited about this year’s crop and are looking forward to great yields. Way to guys! We’re looking forward seeing more from you!

Combining Pinto Bean FieldsCombining Pinto BeansPinto Beans

United States Dry Bean Harvest Update

/ Vitto

DRY BEAN HARVEST UNDERWAY

The US dry bean harvest is underway across the country even as cooler temperatures and moisture threaten some regions. North Dakota and Minnesota dodged a bullet Thursday evening with growers fearing a possible early frost jeopardizing the harvest, but luckily no such threat came to fruition. Dry bean shippers, marketing firms, and suppliers are all trading weather patterns in hopes of trying to squeeze values higher before yield numbers start coming in from around the country; which is expected to be larger than last year for certain varieties.

Please click below to hear Northarvest Bean Growers Association update on the dry edible bean harvest and railroad service concerns.

Pinto Bean Market Prepares Parachute

/ Vitto

The Northharvest Bean Growers Association released bearish news today for the pinto bean market as an expected much larger supply is likely to drive prices down into the twenty-dollar range for growers. Pinto values have been in a decline across the marketplace in a slow parachute-like drop, and the United States Department of Agriculture did not establish any pinto bean prices this week in most bean growing states as they prepare the market for new crop pricing in the coming weeks. The exception was in WA/ID, which did post current crop pricing at $42/44, but even those values cannot be taken too seriously because they are not reflective of market sentiment. The market is feeling a bit anxious at the moment because on one hand producers do not want to see a free-fall in prices all of a sudden, however; other segments of the industry would welcome lower prices too. Unfortunately for United States bean growers, processors, and exporters, Mexico also seems to be having the appropriate weather conditions for a good crop this year, which will make them less likely to import US pinto beans. Mexico will instead end up competing with us for export business this season. For now, let’s hope the parachute has already been deployed, and a slow descend is in place preparing for a soft landing on solid ground somewhere between here and there.

 

2014 Dry Edible Bean Production USDA Forecast

/ Vitto

Dry beans: Production of dry edible beans is forecast at 28.7 million cwt, up
17 percent from last year. Planted area is estimated at 1.67 million acres,
up 23 percent from 2013. Harvested area is forecast at 1.61 million acres,
23 percent above the previous year. The average United States yield is
forecast at 1,784 pounds per acre, a decrease of 83 pounds from a year ago.

In North Dakota, planting was virtually complete by June 22, well ahead of
last year but equal to the 5-year average. As of August 3, development
remained behind the normal pace. In Nebraska, planting was virtually complete
by June 22, near the normal pace. By early-August, the crop was rated mostly
good to excellent. Michigan’s planting began ahead of schedule and was
finished by the end of June. Conditions have been favorable for the crop and
by August 1 the crop was rated 75 percent good to excellent.

Fundamentally speaking, things look good due to favorable weather conditions and more acres in most parts. Prices should decline to lower levels on certain varieties of beans and pulses when new crop starts shipping out into the market. Growers and shippers of  certain colored varieties like Great Northerns and Red Kidneys will have a larger supply this year in hopes seeing last year’s high values again. There will be a larger supply of pinto beans this year along with a variety of color options, and the higher number of CWT produced in North Dakota & other pinto bean growing regions should drive prices to lower levels growers won’t be satisfied with.