Dry Bean Market News week of May 7

Dry Bean Market News for the week of May 7, 2012

Very quiet all varieties held steady this week while trading was light to slow. Pintos saw a $1 bump up from WA/ID dealers on the bids, and Small Reds were not established again which actually is interesting considering there was some low sixties whispers last week. Black beans continue to be soft/weak and US dealers are going to have a heck of a time holding prices as Chinese black beans move into Mexico. Dry bean market news reported the worst drought in recent memory continues to force Mexican farmers to make difficult decisions to decide what to plant into dry ground, throw in some higher corn, soybeans, and wheat futures, sprinkle a little bad or good US weather during planting season, and you got some big price uncertainty. Going into this weekend, weather looks good throughout the entire US with the exception of Central and West Texas which are getting some pretty severe weather. Montana residents are also getting some good steady rain lately. Stayed tuned for next week as dry bean market news brings you continuous updates in our industry.