STAT Communications Ag Market News

Smaller Dry Bean Harvests

PANAMA - Aug 10/18 - SNS -- Dry edible bean production in the United States will be down from last year, dropping 16% to 1.14 million metric tons (MT), judging from the first USDA yield estimates of the year.

Including chickpeas in the dry bean crop revels that combined output will be a record 1.68 million MT, up slightly from last year. Significantly, this marks the first time when the U.S. will grow more chickpeas than pinto beans.

In releasing the report, the USDA also increased total land in beans and chickpeas from its seeded area report, with land in beans and chickpeas jumping from 1.834 million to 2.117 million acres, down from last year's combined total of 2.155 million acres. The change reflected a jump in estimate chickpea plantings from 662,300 to 822,000 acres, with some market participants believing future reports could see that number revised upward.

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