News

Richard Dalian

Sep 26, 2024

Traders Anticipate New Black Bean Crop as Rainy Weather Delays Harvest

Traders Anticipate New Black Bean Crop as Rainy Weather Delays Harvest

As the black bean harvest season approaches, activity in the pulses market in China is picking up, with traders preparing for the new crop listings. However, rainy weather in key production areas is expected to slow down the harvest process, delaying the entry of new pulses into the market until after October 1st. Here’s a closer look at what’s happening in the black bean market.

Harvest Delays Due to Rainy Weather

The rainy weather in major production areas is impacting the progress of the black bean harvest, causing delays that will likely push the listing of new pulses beyond the start of October. Traders are paying close attention to weather conditions, as further delays could affect supply levels and market pricing.

Market Activity Picking Up as New Crop Arrives

With the new black bean crop on the horizon, trader activity has gradually increased. However, many grain traders in the production areas have already exhausted their old stock, and the majority are waiting for the fresh crop to enter the market. A few individual traders are making small purchases to meet current demand, but most are holding off on acquisitions, anticipating better conditions once the new pulses are listed.

Focus on Weather and Supply Outlook

As we move closer to the new grain market period, traders are closely monitoring the weather forecast. The conditions over the next few weeks will be crucial in determining how quickly the black bean harvest can proceed and when new stock will become available for sale. For now, many in the industry remain in a "wait and see" mode, with an eye on both market dynamics and weather patterns.

The black bean pulses market is entering a period of anticipation, as traders prepare for the arrival of the new crop. Rainy weather has slowed harvest progress, but the pulse market is expected to pick up after October 1st. In the meantime, all eyes are on the weather and its potential impact on the upcoming listings.

Current Market Price in China for Black Kidney Bean

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Product  Name Chinese Black Kidney Bean
TypeSmall
Moisture16% max
Package25kg PP bag
Purity99.5%
Loading22mt /20GP
Conv. Fob DalianUSD 1240-1270/mt - EURO 1108-1134/mt
Org.  Fob DalianUSD 1330-1360/mt - EURO 1188-1215/mt
Delivery20 days after the contract
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