Friday, September 26th, 2008
The early-planted fields of both coloured and white pea beans are yielding much better than expected both in tonnage and quality. Reports have some fields averaging above 3000 lb per acre. This of course has had an impact on prices and programs for the specialty dealers that handle edible beans.
In white beans responses to this unexpected event are mixed. Some dealers have removed their board prices others are accepting only contracted quantities. Prices have tumbled $6 to 7 per bag on white beans and more on coloured beans. In essence, the traditional ‘board’ prices have been removed and replaced with specific in-house contract pricing formats. Initial advices indicate that overages on contract beans qualify for a ‘cash-advance’ and free storage until a board price is established.
Producers are strongly urged to check-out and understand their obligations and privileges at their respective dealer.
[Editor’s note: It has yet to be seen whether Ontario’s so called “second” crop – those acres planted in late June and got pounded with rain will yield as well.]