Sunday, February 28th, 2010
The USDA’s February Vegetable and Melons Outlook suggests steady to modestly higher edible bean acres. Early analysis points to an increase in area for Black and Navy beans, with much smaller increases possible for garbanzo, light and dark red kidney, and pinto beans.
Most key factors point to increased dry bean area with average grower bids hovering near $30/cwt. this should translate into an increase of 1 to 3% in seeded area over last year’s 1.54 million acres.
Lower input costs for dry beans, very attractive prices for most all dry bean classes (especially Black, Navy, and Great Northern), relatively good export demand, the beginnings of an economic recovery in domestic markets, relatively low stocks, and lower prices for important competing crops such as corn, soybeans, and barley will help and encourage planting from the cost of production and input side.
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