Dry Bean Seedings Intended to Decline

PANAMA - Apr 1/21 - SNS -- In states covered by the USDA, farmers intend to plant 1.54 million acres of beans, down from 1.74 million last year.

Including estimates for states which are now excluded suggests total area could be closer to 1.609 million. If yields are at their recent five year average, production of all classes of beans would drop from 1.567 to 1.342 million metric tons (MT).

Seeding intentions and trying to extrapolate production is often controversial. If the current drought conditions persist there is a chance farmers in some states will further reduce land in beans in favor of crops which are both more drought hardy and have lower production costs. The intention would be to reduce the financial risk of below average yields.

Current conditions have some market participants expecting yields will be well below average in key parts of the growing area. However, timely rains and normal temperatures would help keep yields closer to average even if the drought is not broken.

Earlier in the week, the USDA said soil conditions in North Dakota at the end of March were unusually dry, with topsoil moisture supplies rated 52% very short, 35% short, 13% adequate, 0% surplus. Subsoil moisture supplies were 46% very short, 35% short, 18% adequate, 1% surplus. Conditions appeared good in Michigan, while Minnesota experienced a warmer than usual March with mostly dry conditions and dry soils.