The outlook for pintos, navies and blacks are similar: surplus supplies means less acres will be needed in 2013.
John Berthold, vice president of Walhalla Bean Co., and president of Green Valley Bean LLC, says the record pinto bean yields added an additional 300 pounds per acre, or 2.2 million hundredweight of supply in 2012 over a normal year.
Total pinto bean production of 13.3 million cwt is nearly the same as the 2010 crop when prices dropped below $20 per cwt. The good news, according to Berthold, is the good color of the crop which allows Northarvest processors to sell to all markets. Berthold thinks we're headed into a quiet period in the markets as end users work through their positions. He says there will be a significant carryover of the major classes of beans going into 2013.
Dark red kidney bean production has stabilized over the past five years, and darks have become more of a contracted crop to supply the domestic market. Berthold thinks the dark red kidney supplies will be used up. Scott Cottenden, with Thompsons Limited, gave the outlook for navy and black beans at Bean Day.
Cottenden said the huge yields, with the average yield in North America above 19 bags per acre, have led to a larger carryover. The normal 1 million bag navy carryover is now 2 million bags; demand is flat to slightly down; and Cottenden thinks we've got to take 30 percent of production out in 2013, through less acres.
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