Posted: November 1, 2017
The crop is mostly in the bin, and overall it looks like a good year. Yields varied depending on location and excess rainfall with some growers experiencing record yields and others having to deal with disease pressure and delayed harvest. Kidney bean demand seems to be growing globally as consumption increases and that’s great news for keeping prices stable as the Chinese come back into the market. China wasn’t too competitive for the 2016 crop, but they’re making up for it in 2017 with lower prices. You may have noticed that our competitors are only offering $33/cwt. for DRK, while we’re still paying $35 - $35.50 plus freight. We know that it’s difficult to make ends meet with low commodity prices but we’ve doing our best to hold $35/CWT. That being said, it is probably time to look at locking in the current price on your overage in case things change for the worse.