News
Dry beans offer profitability amid low commodity prices
The Michigan Bean Commission Executive Director says solid prices heading into harvest have been beneficial to dry bean growers.
Joe Cramer tells Brownfield, “Mexico’s drought gave us an opportunity to move a lot of product into that export world, and so our values came into this harvest is pretty strong values,” he explains. “Our contract values were decent.”
He says more available acres this year and expectations for high prices did cause some over production and market softness for a few specific varieties.
“Especially in blacks and Pinos,” he says.
“I’ve still got a little bit of optimism that we’re going to see or hold decent pricing for Navy beans, but the jury’s still out on that. I think the corn and soybean influence is going to be seen in our new crop values.”
USDA says Michigan dry bean acres are up about 40,000 partly because of wet conditions last fall that led to record low planted winter wheat acres. Nationwide, dry bean acres are up nearly 20 percent.
Cramer says he expects prices to remain soft because of lower corn and soybean prices heading into 2025 but still profitable.
AUDIO: Joe Cramer, Michigan Bean Commission
Add Comment