Bean Market March Week 5 2012

Bean Market March Week 5 2012

Bean dealers were expecting plantings intentions on March 30, prices were elevated slightly by mostly $1 across all varieties. Pinto bean dealers asked for a one dollar premium on the ask side of a transaction with the only exception coming from dealers in Washington and Idaho which lowered expectations for bean values by $1-$2.

Small Red bean dealers in Washington/Idaho were around $62-$64, while Michigan & Mindaks deferred establishing any values zones for their crop

Black bean dealers remain steady while desperately trying to hold onto this $50 handle which if it breaks could lead to further losses into the mid $40’s before support is found again.

Bottom line- everyone is waiting for planting intentions due on March 30 before going forward with any major positions

To learn more about USDA bean specifications please click here.