Dry Edible Beans
Harvest for dry edible beans has been underway for a few weeks now and US growers are bringing in truck loads throughout various parts of the country. The moment has come and yield expectations are all over the map for growers in the United States. Pricing for dry edible beans has all but frozen and seem suspended in mid-air with the almost surreal experience of grabbing it in your hand turning it 360-degrees for examination. This week USDA dry edible bean prices were lifeless due to transition between old and new crop beans for growers and processors.
The US dry bean market has just come off a tremendous price spike technically and initial offers from suppliers ready to ship new crop beans is going to be delicate ballet. Prices have gained so much so soon that another price increase in this market would require either a need for an event driven situation like weather to happen, or simply more time to digest harvest yield and quality in order to allow for recoil then push higher.
Exports opportunities are abundant across the dry bean industry with a noticeable demand from Brazil and Africa in blacks and pintos mostly. Quality reds and blacks are also being offered from Central American growers with polishing options.
Bottom line: We go into the bottom of the 9th inning folks, don’t get up and go take little Johnny go wee-wee to the bathroom!
**F.Garcia Wholesale & Export would like to send our prayers to the recent flood victims in Colorado and also to the families of those wounded in the Washington Navy Ship yard this week.