Friday, March 13th, 2009
Dry beans are a major crop in western Nebraska however, the Great Northern, the dominant dry bean for the area is suffering. A large crop, coupled with plummeting demand has off-take at a standstill resulting in limited to no opportunities for growers to cash flow their bean operations since there is ‘no price’.
Nebraska government officials are asking the USDA to step in and purchase Great Northerns, to help align supply and demand, thereby establishing a grower price which would allow producers to sell product, raise cash and better plan the 2009 bean crop.
Meanwhile without a price, most primary processors have not been willing to offer 2009 contracts.
For the story click here
[Ed. Note: This type of malaise is not confined to Great Northerns. The inability or unwillingness of dry bean market participants to step into the market is having a detrimental effect on growers. As they look and plan to put their acres to work to earn them some returns, they will look to crops that first offer a price and then ensure that price is profitable. The North American Dry Bean Market currently seems bereft of such possibilities. As each day passes the dry bean market looses potential acres to other crops. Let us hope that those acres that are finally put in the ground will yield enough that, when combined with current surpluses, is sufficient to cover next year’s needs.]