Argentine Bean Crop Production Stable, USDBC eyeing export targets

During the first week of June, USDBC conducted a brief survey of the Argentine bean harvest in order to determine production levels. Production estimates cover the June 2018 – May 2019 marketing year and are based on field visits, government statistics, and meetings with farmers, processors and traders. A very preliminary report based on field visits forecasts that for the following classes of beans; cranberry, black, DRK, LRK, and Alubia, harvested area is more or less the same as last year. Alubia, black, and LRK production is down from last year, DRK and Cranberry are up slightly. Our field reps are also reporting that on average, Argentine black beans are coming in on the small side, which is less desirable for their principal export market – Brazil. This could have an impact on export quantities to their other trade partners. We will be keeping a close eye on this dynamic and expect to issue the final production report later this month.