So says the August 16 article in Statpub. Here below is a heavily edited version of the article

There may not be enough beans to go around, is the gist of the story.

While this year’s production forecast for North America is higher than initially expected, it is still down 5% from last year.

The USDA is projecting lower production in 11 of the 18 producing States, due primarily to reduced acreage. However the USA’s largest producing State, North Dakota may, if projections are realized, have its highest dry bean yields on record.

Based on Statistics Canada acreage estimates, Canadian production could inch upward. Regardless North American production would end up dropping and stocks drawn down. The net result – North America has fewer dry edible beans available to cover domestic and prospective export demand.

Dry edible bean production is also down in Latin America.

Competing commodities – wheat, corn and soybean values have shown substantial price pullbacks – dry bean “not so much”.

Recent weakness in other major field crops, if sustained may have their impact in future years.

[ Editor's Note: Soybeans compete most closely with dry beans for acres, that will be the crop whose price we’ll need to watch.]

13-Aug-2008 - Dietary fiber information is the only labeling component to have seen an increase in use by US consumers, suggesting growing interest in the ingredient’s health benefits, reveals a new report by the US Department of Agriculture (USDA).

For the full article click here , to read about Fiber’s nutritional benefits, the market’s size and changing nutrition labels (in the US).

[Editor's Note: (Canned) Beans are a vegetable, and in Canada are permitted to carry the claim "Very High Source of Fibre."]

August 13, 2008.  Here below is a synopsis of the report. For future reports we will try and have links to the entire report.

Cranberry and early maturity white beans are turning rapidly. Yellowing is widespread in many later maturing fields and is related to cumulative stress from saturated soils, root rot, drainage, compaction.

Bacterial Blight
Early infections of bacterial blight remained confined and have not spread as anticipated.

Bean Leaf Beetle
Bean leaf beetles are present in many fields at low levels. 

Preparing for Harvest
Scout fields for problem weeds like pokeweed, nightshade that can cause severe staining during harvest.  Remove volunteer corn plants with cob, as there is zero tolerance to grain corn in delivered beans.

The full report including all the other crops can be found here

August 12th

U.S. dry edible bean production is forecast at 24.2 million cwt for 2008, down 5% from last year and down slightly from 2006, according to the USDA’s latest crop production estimates.

Planted and harvested area increased from the June Acreage report but still below the previous year on both counts

The average U.S. yield is forecast to jump and if realized, will be the highest yield on record for the U.S.
If realized, North Dakota and Wyoming could have their highest dry bean yields on record.

However production in 11 of the 18 other producing States is pegged to be lower primarily due to reduced acreage.

For more of the story click here or here and go to page 17 for the statistics or pg. 41 for the commentary.

A report in the Ottawa Sun chronicles the problems farmers are having with the hay crop.

Read the whole story here

 [Editor’s note: The wet weather is also an issue in delaying the winter wheat harvest, causing problems with quality of the wheat and of course the dry bean fields are under some severe mould pressure.]

Stat Publishing carried the following article on Aug 8/08 –

Major North American Dry Edible Bean growing regions require a lasting summer season with favorable weather late into the month of September.

Dry edible bean progress across Manitoba is rated as good … .

Michigan dry bean crop conditions have greatly improved over the last month … .

Minnesota / North Dakota – Mindak region’s dry bean crop overall is rated as good.

From the news wires on August 6th: “Dry edible bean production in Mexico still stands a chance of increasing this season despite a smaller than expected harvested area, BUT that will not prevent imports from rising, argues the U.S. agricultural attache for the country.”

So reads a report from Stat Publishing

USDA said that as of Sunday (August 3rd) Michigan corn was looking good in most locations, but there were some reports that rain was needed. Soybeans continued to bloom, and a number of fields were setting pods. Harvest of winter wheat was all but completed. Moisture levels and rains have damaged some dry bean fields, but the crop continues to progress.

The entire story can be found here

North American dry edible bean markets finished the week’s trading on a strong note, reports Statpub.com.

Limited availability of beans on spot markets combined with a smaller prospective crop is helping to boost bids is outlined in “Strong Finish For Edible Beans”.

From the News wires:

Stephen Roach, chairman of Morgan Stanley Asia, nicknamed the “famous bear” sees the global economy correcting from an irrational and unsustainable spending free-for-all in commodities: oil, base metals and other industrial materials “prices will be a good deal lower than they are today” as demand pressure eases he says in a commentary released Friday August 1st.

“I am not sympathetic to the view that hedge funds and other speculators have driven commodity markets to excess,” he writes. “At work, instead, are mainly long-only, real money institutional investors such as global pension funds – all of whom have been advised by their consultants to increase their asset allocations into commodities as an asset class.”

He adds: “herding behavior” invariably turns out to be wrong.