Thursday, February 26th, 2009
As was the case a year ago, uncertainty remains in the acreage outlook for dry edible beans with growers again presented with several profitable choices (depending on growing region), says USDA in its February Vegetables and Melons Outlook.
The ratio of dry-bean-to-corn prices was 7.8 in January compared with 6.9 a year earlier favoring dry beans this year. Should dry bean prices weaken or corn prices strengthen in the months running up to planting this would curtail dry bean area, says USDA report
However other evidence suggesting a possible increase in dry bean area for some market classes this spring includes the current attractive returns over direct costs for dry beans compared with a number of crop alternatives.
If the anticipated acreage increase for such classes as pinto, kidney, lima, and black beans, comes about U.S. dry bean seeded area may rise 5 to 9% from a year earlier, says USDA.
For the full report click here and go to page 21