Ag Canada Sees Modest Gain in Beans

WINNIPEG - Jan 26/16 - SNS -- In its latest monthly review of Canadian dry edible beans Agriculture Canada's market analysis branch in Winnipeg released its first forecast for the 2016-17 marketing year. It is important to recall that Agriculture Canada forecasts are not based on objective surveys should be considered unofficial.

It predicts edible bean production this year will total 230,000 MT from 105,000 hectares, compared to 249,000 MT from 108,000 hectares last year.

Agriculture Canada forecasts exports will reach 310,000 MT in 2016-17, compared to an estimated 310,000 MT this season. Domestic use is forecast at 25,000 MT in the coming marketing year, versus 29,000 this season.

Season ending stocks are forecast to finish the 2015-16 marketing year at 30,000 MT, versus 35,000 last season. Agriculture Canada thinks the coming marketing year could finish with 10,000 MT of dry edible beans on hand.

Agriculture Canada expects the average grower bid for all classes of beans to range between $730 and $760 MT in 2015-16. It thinks the season average bid will range between $740 and $770 MT in 2016-17.

"The average Canadian dry bean price is forecast to fall due to higher supply in North America," Agriculture Canada argued.

"US dry bean production increased significantly for black beans, followed by the small red bean and dark red kidney bean types. US Great Northern bean type production fell sharply. This is expected to continue to pressure US and Canadian dry bean prices for 2015-16."