USDA Bean Forecasts Cntroversial

VANCOUVER - Aug 17/09 - SNS -- This year's preliminary USDA dry edible bean production estimates are more controversial than normal, with many traders arguing seeded area is less than believed and that yields will end up worse than currently forecast.

The report contained seeded area estimates by state and class of bean grown, but only provided state level yield forecasts. Yield estimates by class are normally contained in the final crop report of the calendar year.

In last week's crop report, the USDA predicted growers in the U.S. would produce 24.4 million 100 pound bags or 1.105 million metric tons (MT) of beans this year, down 5% from last year and 2007, according to the USDA's latest crop production forecasts.

Planted area is forecast at 1.48 million acres, up 2% from the June Acreage report but down 1% from a year ago. Harvested area is forecast at 1.39 million acres, down slightly from June and 4% below the previous year's harvested acreage. The average U.S. yield is forecast at 1,750 pounds per acre, a decrease of 18 pounds from 2008.

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