More Beans, Lower Prices in 2009-10
WASHINGTON - Feb 27/09 - SNS -- Dry edible bean seedings in the United States should rise this spring even though average returns from the crop will likely decline in the 2009-10 marketing year, argues Gary Lucier of the USDA's Economic Research Service in the February 25 edition of the USDA's Vegetables and Melons Outlook.
"As was the case a year ago, much uncertainty remains in the acreage outlook for dry edible beans with growers again presented with several profitable choices (depending on growing region).
"Although price strength remains broad compared with past years for virtually all competing field crops, prices are currently lower than the unusual highs of a year earlier and full of uncertainty. In addition, production costs could also average slightly higher in 2009 despite lower fuel and fertilizer prices. Thus, projected returns above direct costs will not be as strong as a year earlier for most crops, although they remain much higher than pre-2006 levels, " Lucier said.
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