MarketsFarm — This year’s dry bean harvest in Manitoba has only produced about two-thirds of an average annual yield, according to the province’s expert on pulses.
Dennis Lange, pulse specialist for the Manitoba government at Altona, said all but a few acres have come off the fields.
Due to drought conditions this summer, however, the amount of beans grown will be fewer than in recent years.
“Yield wise, we’re definitely lower than the five-year average,” Lange added. “The five-year average for dry beans in Manitoba is just over 1,700 pounds per acre over all bean classes. This year, we’re probably going to look at 1,200 or 1,300 lbs./ac. as a provincial average.”
Read Also
China rapeseed meal futures see largest one-day gain in almost three months after Xi–Carney talks
China’s most active Zhengzhou rapeseed (canola) meal futures posted their largest daily gain in nearly three months on Monday, after Canadian Prime Minister Mark Carney and Chinese President Xi Jinping met in South Korea last week without securing a breakthrough on tariffs.
Despite the drier-than-usual conditions, most bean crops avoided crop disease over the growing season, which resulted in good crop quality, he said.
“I was hearing of some (farmers’) yields of around 1,800 lbs./ac. for pinto beans. But it’s whether or not they got rain at the right time,” he said.
Over the past month, bean prices in Manitoba have been steady to 7.5 cents/lb. lower, according to Prairie Ag Hotwire data.
However, high-delivered bids for small red, navy, pinto and black beans are all at least 12.5 cents/lb. higher than last year. Meanwhile, cranberry, Great Northern and light kidney beans are all priced lower.
Lange said he expects contract talks among growers and suppliers to pick up over the next couple of months.
“I wouldn’t say it’s harvest pressure. I guess what’s happening is there was some big demand for beans right at harvest time. So, the prices were a lot stronger than what we’ve seen in past years,” he said. “But lately here, I think companies have been able to buy what their needs are right now and then once (beans go) into the bin, (demand) settles a little bit.
“Right now, growers have their (stock) in storage. I think we’ll just have to wait and see how that (price) movement happens,” Lange said.
— Adam Peleshaty reports for MarketsFarm from Stonewall, Man.
