Pressure On Dry Beans Building

VANCOUVER - Apr 28/15 - SNS -- International dry edible bean markets have lost their bullish lustre since the start of the calendar year with weighted average prices for North American beans trading at almost 8% less since January 1 than they between August and December.

Edible beans have been the weakest sector in international pulse markets, which have managed to gain just over 8% in value between the two period mainly because of strength in lentils. Farmers in North American appear to have responded to the difference in price direction.

Seeding intentions reported by the USDA and Statistics Canada suggest they will grow as many dry edible beans as last year. On the other hand, they intend to plant more lentils and field peas for an overall increase in pulse area to a near record 10.75 million acres.

Markets believe total pulse area will probably push past 11 million acres this spring because of a massive increase in red lentil seedings in Canada and a general increase in lentil and field pea plantings in the United States. If the weather cooperates, total pulse area in Australia could be up over last year as farmers plant more fababeans and field peas. By contrast, forecasts of a below normal monsoon on the Indian subcontinent has raised concerns pulse seedings there could slip further depending on the timeliness and distribution of rains.