Volum

e 29, I

ssue 2

www.csuag.com/cbn

Oct. 2016

COLORADOColoradoDry BeanDRY BEAN

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Ag exports up Page 13

damaged crops in mexico....

Page 7

GMO Labeling Now Law Pg. 3

2 Colorado Bean News - Volume 29 Issue 2 - October 2016

USDBC NEWS:

Websites of interest to bean growerswww.csuag.com

www.coagmet.comwww.colostate.edu/Orgs/VegNet/beanlinks

www.csuag.com/cbn (back issues)www.coloradodrybeans.com

Colorado Dry BeanAdministrative Committee

31221 Northwoods CircleBuena Vista, CO 81211PH: 303-903-2004FAX: 303-265-9066www.coloradodrybeans.com

Executive BoardRobert Schork - ManagerGlenda Mostek Colo. Dept. of Ag. Advisor(303)369-9173

Dealer Directors:Jerry Haynes - Jacks Beans, SecretaryLarry Lande - Northern Feed & Bean

Grower Directors:Brent Adler - WrayGary Cozzens - EatonHarvey Colglazier - Holyoke (President)Troy Seaworth - Wellington

The Colorado Bean News is supported in part by your voluntary check-off dollars administered by the Colorado Dry Bean Administrative Committee.

COLORADOColoradoDry BeanDRY BEAN

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Colorado Bean NetworkExecutive Board

Harley Ross - Kelley Bean - Chairman(970)463-5468Mark McMillan - CSU - Secretary (970)481-5437Larry Lande - Northern Feed & Bean - Treasurer(970)352-2575

Colorado Bean News is published bian-nually by the Colorado Bean Network, a non-profi t organization which supports the dry bean industry in Colorado. Although the content of articles and information published in Colorado Bean News is true to the best of our knowledge, the Colorado Bean Network and its personnel accept no responsibility for its accuracy. No endorsement of products mentioned is in-tended nor is criticism implied of products not mentioned. Check pest management and agronomic advice with local sources, and always read and follow product labels.

Producer

s Processors

Colorado State UniversityColorado Bean Network

THE OLYMPICS ARE NOT THE

ONLY EXCITING EVENT IN

BRAZIL THIS SUMMER While many are celebrating the

2016 Olympics in Rio this summer, and rightfully so, USDBC is lighting its own torch to new export opportunities in this important market. USDBC is working in Brazil capitalizing on its core strategy for engagement in export development. Th is includes; cultivating long term challenging markets, establishing relationships with key infl uencers, and being in the right place at the right time.

USDBC began to look in earnest at export prospects to Brazil about three years ago, winning an Emerging Markets Grant from USDA's Foreign Agricultural Service (FAS) to explore how U.S. dry beans could shore up Brazilian bean sup-ply on a seasonal basis, when production ran low. Brazil, one of the largest bean consuming nations in the world, has a unique consumption pattern where 70% of the 3.6 MMT of beans consumed annu-ally, consist of the Carioca bean. In theory, any change in production of Carioca beans, could create supply fears and price spikes. USDBC's goal has been to provide

USDBC SUMMER MEETING EMPHA-

SIZES TRADE AND DOMESTIC POLICY USDBC concluded a successful sum-

mer meeting during the U.S. Dry Bean Convention July 29 & 30 in San Diego, CA. A critical focus of this year's meeting was to endorse the Council's robust trade program planned for the coming year. Th is included a review of critical trade events, selection of trade team delegates, a discussion of new opportunities for exports given crop shortfalls in competitor markets, and a new opportunity to gain a foothold in the Brazilian market. Mem-bers also discussed the ongoing impor-tance of USDBC's participation in global food assistance programs and looked at options to enhance dry bean tonnage in food aid. Several domestic policy issues have emerged in the last year that impact the dry bean processing chain such as the unintended presence of allergens in dry beans and a new food labeling bill to note the presence of GMOs. USDBC reaffi rmed a commitment to continue to actively engage in policy issues that impact our industry and to work for the best pos-sible outcome. Members also discussed the upcoming Farm Bill negotiations and what to anticipate as deliberations begin later this year. USDBC's committees will be busy this fall leading up to the next full board meeting which takes place January 24 and 25 in Washington, DC.

a similar class of bean to Brazil, to stabilize supply and prices and prevent market destabilization.

Th is year a perfect storm of unfor-tunate crop circumstances in Argentina and Brazil has created unprecedented price spikes that have opened the door for the U.S. to export to Brazil. USDBC has received several trade leads and price inquiries and sales are beginning to take place. We are hopeful that we will estab-lish a permanent foothold in this impor-tant market as a seasonal dry bean supplier of choice. We will continue to report on market success stories in Brazil, and are grateful to USDA/FAS for their continued support of our marketing programs.

Contents in this Issue:

OLYMPICS THIS SUMMER. . . . . . . . . . . . . . . . .2USDBC SUMMER MEETING. . . . . . . . . . . . . . . .2GMO LABELING IS NOW THE LAW . . . . . . . . .3USDBC SUPPORTS US TRADE . . . . . . . . . . . . .3MARKET SNAPSHOTS . . . . . . . . . . . . . . . . . . . .3SHOULD WE WORRY ABOUT BREXIT. . . . . . .4HUNGARY LOOKING TO US FOR BEANS . . .4ARGENTINA/BRAZIL CROP SHORTFALL. . .4DRY BEAN PRODUCTION . . . . . . . . . . . . . . . . . .5NEW PINTO VARIETY “CENTENNIAL” . . . . .5USDA BEAN MARKET REPORT . . . . . . . . . . . .6CPS ACQUIRES TEXAS OPERATION . . . . . . .6DROUGHT IN MEXICO . . . . . . . . . . . . . . . . . . . . .6DAMAGED CROPS IN MEXICO . . . . . . . . . . . . .7USDA BEAN MARKETING REPORT . . . . . . . .7SOUTH & CENTRAL AMERICA REPORT . 7-11BIG FERTILIZER MERGER IN WORKS . . . . .11BEANS, WINE, AND BEST FRIENDS . . . . . . .12AG EXPORTS UP . . . . . . . . . . . . . . . . . . . . . . . . .13ROBOTS AND DRONES . . . . . . . . . . . . . . . . . . .13CHINA HARVEST REPORT. . . . . . . . . . . . . . . .14FALLING CROP PRICES . . . . . . . . . . . . . . . . . . .14MOROCCAN TOMATO SOUP . . . . . . . . . . . . . .15

Volume 29 Issue 2 - Colorado Bean News 3COLORADO

ColoradoDry BeanDRY BEAN

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PINTO BEAN GROWERS

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GMO LABELING IS NOW THE LAW On July 29, the debate over a law for state by state labeling

requirements for our foods to indicate the presence of genetically modifi ed organisms (GMOs), was put to rest as President Obama signed the Safe and Accurate Food Labeling Act. While there are many detractors for diff erent reasons, for the U.S. dry bean industry, and many other agricultural groups, single centralized legislation, with uniform requirements avoids disruption caused by trying to comply with diff erent laws in each state.

Th e legislation will require most food packages to carry a text label, a symbol or an electronic code that indicates whether the food contains GMOs. Th ere are still issues to be worked out as this law is implemented. Detractors believe many consum-ers won't be able to read electronic labels and that there aren't enough penalties for companies that don't comply, according to the Washington Post.

USDA still has two years to write the language. While dry beans do not contain GMOs, some sources say up to 80% of our foods do, most of those are corn and soy based. Th e FDA has ruled that GMOs are safe to eat. Labeling requirements can be costly and disruptive. We believe this is the best solution and will continue to engage with infl uencers as the law is implemented.

MARKET SNAPSHOTS - issues we're following One of the most important pieces of market intelligence

USDBC provides is a crop survey of the Mexican bean harvest. We are getting ready to start this year's survey and will be keep-ing you posted.

Trade team selections have been made for the upcoming year. We will be getting in touch with all of the selected delegates and alternates.

Th e Dominican Republic has been a tough place for the dry bean business lately. Over the last year, we have run into separate problems with customs and import duties. Th e U.S. enjoys pref-erential or duty free entry as part of the CAFTA/DR agreement. If you run into problems in the DR or have had problems with your export shipments, please let us know.

Indonesia has begun requiring new documentation for dry bean imports regarding the quarantine process. Th is has the potential to be disruptive to trade. Our offi ce in Bangkok is working to resolve this issue with FAS/Jakarta.

USDBC Supports the U.S. Trade AgendaTh e U.S. Dry Bean Council (USDBC) unequivocally sup-

ports the U.S. Government’s trade agenda. As an industry that depends on exports for a signifi cant percentage of sales, we support trade agreements that level the global playing fi eld and provide new opportunities that result in robust export markets.

It’s common sense, as noted by USDA, that in countries where the United States has free trade agreements, exports of U.S. farm and food products have grown, more than 145 percent – from $24 billion to $59 billion. Tariff reductions, increased Tariff Rate Quotas (TRQs), and improved frameworks to resolve Sani-tary and Phytosanitary (SPS) issues, have all directly benefi ted the US dry bean industry and helped our global competitiveness.

Rebecca Bratter, USDBC Executive Director noted, “FTAs are critical to our global competitiveness, Colombia for example shows how trade deals translate to new exports, we have been a direct benefi ciary.” For this reason, we support ratifi cation of the Trans Pacifi c Partnership (TPP) as a critical piece of trade policy.

According to the U.S. International Trade Commission (ITC), by 2032, TPP could increase U.S. exports by $7.2 billion annually and total agricultural output by $10 billion. If TPP is not ratifi ed, it could mean a loss of over $4 billion annually in farm income. With our agricultural sector under strain from weather, a high dollar exchange rate, global economic slowdown, and contin-ued competitive threats, we need TPP.

A strong Trans-Atlantic Trade and Investment Partnership (TTIP) agreement, while not as far along as TPP, can also off er important benefi ts to the U.S. agricultural economy, with the po-tential to boost exports by over $9 billion annually (USDA/ERS). Trade deals are critical to the health of the U.S. agricultural sector. Our competitors continue to negotiate and sign new agreements. If we don’t do the same, we will get left behind.

For additional information contact Rebecca Bratter at Rebecca@usdrybeans.com. Th e U.S. Dry Bean Council is the national global export development arm of the U.S. dry bean industry, representing dry bean dealers, growers, and processors with the exclusive aim of increasing the consumption of U.S. dry beans worldwide.

4 Colorado Bean News - Volume 29 Issue 2 - October 2016

SHOULD WE WORRY

ABOUT BREXIT? Th e recent vote by the U.K. to secede

from the European Union (EU) has cre-ated economic shockwaves all over the world, sending our own stock market into turmoil. While the vote was defi nitive, it's not necessarily binding, and USDBC suspects that the two year transition period may result in a heavy amount of doubt about the decision (personal opinion).

On the trade front, the vote will delay negotiations with the EU on the Trans Atlantic Trade and Investment Partnership (TTIP), and create confusion at the World Trade Organization (WTO) as the U.K. will have to renegotiate their membership terms as a sole entity. However, while TTIP will remain the U.S. policy prior-ity, it is the opinion of USDBC that our shared history, culture, and trade ties will keep the "special relationship" between the U.S. and the U.K. intact in the long term. USDBC will remain vigilant as this situa-tion develops and will keep you informed.

HUNGARY LOOKING TO US FOR DRY BEAN SUPPLY

USDBC just completed a market visit to Hungary to assess opportunities for ex-ports of U.S. dry beans. Th e trip was scheduled to follow up on multiple inquiries made to USDBC's European representative. A relatively small market, US dry bean exports to Hungary totaled 3,000 MT in 2015, giving the U.S. a 39% market share (source: Global Trade Atlas/Eurostat). Th is is largely due to the fact that the leading canning company in Hungary, Bonduelle, uses exclusively US dark red kidney beans. U.S. dry beans cur-rently enter the market duty free but it is still a very price sensitive market. Th ings are beginning to change with a greater emphasis on high quality sourcing as hypermarkets, supermarkets, and specialty stores have become more prominent.

Th e Hungarian market is principally looking for dark red kidney beans and navy beans, and has now started substituting cranberry-type beans with pinto beans. Th ere is also demand for Great Northern beans and garbanzos. Like many countries in East-ern Europe, Hungary has long relied on Ethiopian navy beans, as well as Chinese light speckled beans. However, the market is now aware that Ethiopian prices are not the bargain that they once were and Chinese production is in gradual decline. Th is means that means that Hungarian companies are now hoping to have better and more frequent communication with U.S. suppliers and would like to receive samples and quotes. We will send out trade leads as we receive them and continue to cultivate opportunities in this market. Th e full trip report will be sent under separate cover.

ARGENTINA/BRAZIL TRADE MISSION CONFIRMS CROP SHORTFALLS

A recently concluded USDBC trade mission and crop tour to Argentina and Brazil confi rms crop shortfalls in both countries. Argentine dry bean plantings are down from 2015 but still above historical averages. Yields are signifi cantly lower than last year, color is good but caliber is smaller than average. At the same time, Brazil, the largest bean growing and consuming nation in the world, is also facing a dry bean crop shortfall due to poor weather conditions in growing regions.

Th is dynamic has created a high demand, high price, sellers’ market, particularly in Brazil where carioca beans prices (the most popular Brazilian bean) have reportedly reached close to US$3,000/MT. Brazil traditionally turns to Argentina as their supplier of choice for dry beans. Brazilian buyers are, for the fi rst time, admitting the crop shortfall and some sources have noted they may need an extra 300,000 MT of dry beans. During the crop tour, USDBC spotted Brazilian buyers visiting Argentine growing regions to purchase beans directly from growers. Brazilian traders have told USDBC that in addition to sky high carioca prices, they are paying upwards of $950/MT for cranberry beans, and $850/MT in cash prices for black beans. USDBC feels that Brazil will buy every pound of the Argentine crop possible.

For USDBC, this means that our year-long eff orts to promote US pinto beans (called feijao tigre in Brazil) as a substitute for Brazil-ian carioca beans, has a real chance of creating new US dry bean sales to Brazil. But this opportunity is not limited to Pinto beans. With Brazilian need for dry beans so strong, the Argentine crop falling short, and traditional Brazilian sources commanding record prices, we are optimistic we will sell U.S. dry beans to Brazil this year.

Volume 29 Issue 2 - Colorado Bean News 5COLORADO

ColoradoDry BeanDRY BEAN

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See Centennial on Page 6

Dry Bean ProductionTh e United States is the global leader in dry bean produc-

tion. Each year, U.S. farmers plant from 1.5 to 1.7 million acres of edible dry beans. And while Americans are the chief consumers of these beans, 25% are shipped to international markets in more than 100 diff erent countries around the globe. For centuries, dried beans and other pulses have served as primary protein sources for many cultures. Lately, however, some developing countries are turning away from the consumption of beans and substituting alternative foods that are often less nutritious. At the same time, health-conscious consumers in wealthier countries are adding more dry beans to their diets. Growing interest in ethnic cuisines that include beans and increasing knowledge about the benefi ts of eating more plant-based foods are contributing to renewed research in, and increased consumption of, beans.

New Pinto Bean Variety “Centennial”Mark Brick, J. Barry Ogg, Howard Schwartz, Jerry Johnson and Fred Judson

A new pinto bean variety, Centennial, was released to Certifi ed seed growers in 2015. Centennial was released by the Colorado Agricultural Experiment Station to provide dry bean producers in the western USA with a variety that combines medium season maturity (95-99 days), resistance to common rust, and most strains of Bean common mosaic virus and Bean com-mon mosaic necrosis virus.

Centennial (tested as CO 91212-4) was released to provide dry edible pinto bean growers in the High Plains and western US with a high yielding pinto cultivar that combines resistance to common rust and bean common mosaic virus, excellent seed qual-ity and size, and semi-upright architecture. Centennial combines mid-season maturity, semi-upright architecture, resistance to bean common mosaic virus, indeterminate growth habit and possesses the Ur-3 and Ur-6 alleles that condition resistance to strains of rust found in the Hi Plains and western US. Centennial is most similar to the pinto cultivars Croissant and La Paz. Other pinto cultivars compared are El Dorado, and Othello.

Plant height was measured for Centennial, El Dorado and Othello in the 2014 (2 locations) and 2015 (2 locations) Coop-erative Dry Bean Nurseries. In both years Centennial was taller than Othello and similar to La Paz for height.

Centennial was compared to Croissant and La Paz for harvest maturity in Colorado. In 2014, Centennial was 1 day

Entry Yield (lb./ac) Seeds per lb. Yield(lb./ac) Seeds per lb.Centennial 2193 1216 2854 1221

Croissant 2079 1339 3213 1335La Paz 2416 1311 3440 1338

Montrose 1869 1413 3389 1212Long's Peak 1842 1369 3048 1284

Othello 1534 1380 2844 1134Trial Average 1907 1306 3252 1274

LSD (0.3) 267 321

2013 2014

Table 1. Yield and seed size of Centennial and other pinto vari-eties tested in Eastern Colorado in 2013 and 2014.

Table 2. Yield, seed size, days to fl ower, harvest maturity and rust reaction of Centennial and other pinto varieties tested in the Cooperative Dry Bean Nursery in 2014 and 2015 over 10 locations.

later than Croissant and 8 days earlier than La Paz, and in 2013, Centennial was 3 day later than Centennial and 3 days earlier than La Paz for date of planting to harvest maturity. Th is data is supportive of observations that Centennial is consistently 3 to 5 day earlier than La Paz and 2 to 3 days later than Croissant.

Seed weight for Centennial is higher than La Paz or Crois-sant. In 2015, Centennial had higher seed weight than La Paz or Croissant in Colorado. In 2013, Centennial also had higher seed weight than La Paz or Croissant in Washington. In 2013, Cen-tennial also had higher seed weight than La Paz, in Fort Collins, CO and higher seed weight than La Paz or Croissant at Lucerne, CO.

Yield (lb/ac)

Seed weight (g/100 seeds)

Days to flowerin

g

Days to harvest maturity

Rust (MD)*

Rust (CO)

Centennial 3160 39.5 48 100 2 2El Dorado 3453 44.5 45 105 8 5,6

Othello 2695 38.1 42 89 8 5,6

Centennial 2792 38.9 45 98 4 2El Dorado 2657 39.2 44 99 7 5,6

Othello 2271 36.6 41 86 8 5,6

2014

2015

*For MD rust, scale is based on disease severity and incidence with 1 = best and 9 = worst. Rust for CO is based on 1 = no symptom, 2 – necrotic fleck, 3 is small pustule and 4, 5, 6, are larger pustules

6 Colorado Bean News - Volume 29 Issue 2 - October 2016

USDA BEAN MARKETING REPORT Greeley, CO September 27, 2016 USDA-CO Dept of Ag Market News

Pintos NE CO/WY/W NE 40.00 30.00

N. Dakota/Minnesota 36.00-38.00 30.00

Washington/Idaho NotEstablished 28.00-30.00

Great Northern Nebraska/Wyoming 42.00 30.00

Light Red Kidney Colorado/Nebraska NotEstablished 32.00

Wisconsin/Minnesota NotEstablished 32.00-33.00

Dark Red Kidney Michigan NotEstablished NotEstablished

Minnesota/Wisconsin 45.50-50.00 34.00-35.00

Small Red Washington/Idaho NotEstablished 28.00

Michigan 38.00-39.00 38.00-39.00

N. Dakota/Minnesota NotEstablished NotEstablished

Black Michigan 42.00 35.00

N. Dakota/Minnesota 39.00-40.00 31.00-32.00

Pea Bean Michigan 38.00-40.00 30.00-32.00

N. Dakota/Minnesota 38.00-39.00 30.00

Garbanzo Washington/Idaho NotEstablished 34.00

N. Dakota/Montana NotEstablished 32.00-40.00

DDealer Grower

Source: USDA-CO Dept of Ag Market News Service, Greeley, CO

Jonathan Gittlein 970-353-9750 Greeley. LGMN@ams.usda.gov

Hybridization of parental lines was made at Colorado State University, Fort Collins, CO in 2006. Centennial was selected at the Agricultural Research, Demonstration, and Education Center, Fort Collins: and Breeder and Foundation seed was produced at the Western Colorado Research Center, Fruita, Colorado. Foun-dation, Registered and Certifi ed seed classes will be recognized. Th e Dry Bean Foundation Seed Project at Western Colorado Research Center, Fruita, CO has Foundation Seed for distribu-tion to Certifi ed Seed growers in 2016 and 2017. Protection from Title V of the Plant Variety Protection Act will be submitted for Centennial.

Centennial from Page 5 CPS Acquires Texas Retail OperationAugust 23, 2016Posted By: Matthew J. Grassi

Crop Production Services (CPS) has acquired the assets of Larry’s Chemical and Spray, Inc., for an undisclosed amount in an all cash transaction, which included the real estate.

Th e purchase price falls within the upper end of the EBIT-DA multiple range that CPS targets for its acquisitions, according to a PR Newswire press release.

Operating from its headquarters in Brownfi eld, TX, Larry’s Chemical & Spray, Inc. is a retail operation off ering seeds, fertil-izers, supplies and equipment for the farm supply and service industry. Th e Company’s primary products include cottonseed, chemicals and fertilizer.

Th e Company operates from three buildings, totaling 20,000 square feet. Organized as a “C” corporation, Larry’s Chemical & Spray, Inc. was established in 1968. Larry and Sharon Yowell (the “Owners”) became partners in the business in 1992, and assumed full control in 2007. Th e Company has eight nonunion employees, with an average length of service of 16 years.

CPS is a major retail supplier of agricultural products and services in North America, South America and Australia and a wholesale producer and marketer of all three major agricultural nutrients and a supplier of specialty fertilizers in North America.

Drought in MexicoNTR Zacatecas - August 9, 2016

Zacatecas.- According to SAGARPA’s closing numbers for the planting season, 23.32% of the surface will not be planted with the crops programmed for and these fi elds will be planted with feed crops, due to the lack of rain. Th e total 76.68% planted, -which due date to plant was July 25th-, received the seeding of corn, produce and beans. Of a total surface of 1,073,163 hectares, 822,898 were planted with corn, beans, feed oats, peanuts, chia and peas amongst others.

Rio Grande remains the district with the largest dry land surface planted with a total of 374,972 hectares with crops such as: green feed oats, pumpkin, barley grain, dry beans, sunfl ower, corn and wheat. Th e second place is for Fresnillo with 124,359 hectares planted followed by Ojocaliente with 113,754 and Zacatecas district with 100,837 hectares planted.

Th e crops with the largest planted surface are: dry beans with 498,788 hectares, however the programmed surface was 590,457 hectares. Corn was also one of the crops with the largest surface with 145,450 hectares from the 185,291 that were programmed. Feed corn and oats were planted in 85,965 and 49,277 hectares respectively. Barley grain was planted in 8,544 from the 32,834 hectares that were programmed.

Since last week, some of the bean areas in Durango have been hit by hail storms and heavy rain. We reported in the monthly report of it however, while there seems to be that there is not a considerable damage, this Tuesday more areas received a lot of rain. Following is an article published today in regards with this issue.

Harvesting beans?

We pickupwhat others leave behind.

8 Colorado Bean News - Volume 29 Issue 2 - October 2016

GrainEdge LLC “Seed Treating and Solutions”

Darrell Lemmon, Holyoke, CO. MOBILE 970-580-8303

Soygreen Liquid with Nutrient Shuttle Effect™ 1.5 qts/A in furrow 1.5 qts/A foliar (2X) High Plains yield advantage of 264#/A (4 yrs)

Chemistry Price Quotes

Brawl II (S-metolachlor) BattleStar (fomesafen) Raptor (imazamox) Basagran 5L (bentazone) Eptam 7E (S-ethyl dipropylthiocarbamate) Volunteer (Clethodim) Upland MSO

Damaged Crops in MexicoEl Siglo de Durango - Aug 24, 2016

Durango.- Poanas Peñon Blanco and Cuencame, are the most aff ected munici-palities with fl ooded parcels or with hail damage mainly dry beans. Carlos Matuk leader of the National Farmers Confed-eration said that they have assessed some of the damage and in Peñon Blanco they counted 300 bean hectares with fl ood damage. In Poanas an estimated 250 hect-ares mostly beans and in Cuencame 1,500 bean hectares with hail damage. However, more and more are being reported in the area. However, Matuk clarifi ed that it would not be benefi cial to claim the insurance at this moment and it should be reserved for a more important event.

He commented that they have practi-cally closed the planting numbers with 180 to 190 thousand bean hectares, a smaller number than the 220 thousand previ-ously reported. He commented that 150 thousand hectares were planted with oats through the crop conversion program.

MERCOSUR, South America and Central America Market Report Prepared by Randy Duckworth - (USDBC International Representative) and Roman Kutnowski - August 22, 2016

ARGENTINA:

DRY BEAN EXPORTS UPArgentine dry bean exports to virtually every major export market increased signifi -

cantly compared to last year.

Brazil Lower bean production in Brazil has driven Argentine exports

up from last year. Th ere is a unanimous view that Brazil will buy every single bean they can in Argentina. Still, it won't be enough to cover domestic demand (more info below).

PakistanExports of below-average chickpeas, cranberry, reds, mung beans

and other bean types remained at good pace until June, 2016.GuatemalaBlack bean exports continue on the rise, undoubtedly displacing

some US exports to the market.Additional CommentsAlubia Beans: Prices starting at $1,150/MT (Mediterrenean

Port).Black Beans: After reaching $1,200/MT, prices dropped to

$1,000-$1,050/MT (Foz de Iguazu).Cranberry Beans: Due to high demand from Brazil, cranberry

bean prices were pegged at $1,250-1,300 in Foz de Iguazu). Mung Beans: Low buying interest was reported due to rumors

of a bumper crop in India. Given the low current international prices ($750-800, $350-450/farm in Argentina) growers are reluctant to sell.

CORDOBA PROVINCE ENCOURAGES PULSES PLANTING

Th e Province of Cordoba announced the launch of a Pulses and Specialty Crops Program (Mesa Provincial de Legumbres secas y especialidades de Córdoba), which aims to encourage planting of chickpeas and other pulses. Cordoba’s chickpea production accounts roughly for 43% of Argentina’s garbanzo output.

According to Bolsa de Cereales de Cordoba, Cordoba’s chickpea area will increase by 15% this year.

Source: World Trade Atlas (HS Code 071333)

Volume 29 Issue 2 - Colorado Bean News 9COLORADO

ColoradoDry BeanDRY BEAN

S

Advertise in

Use the Colorado Bean News to Reach Colorado Bean Dealers and Growers

The COLORADO BEAN NEWS is published biannually by the Colorado Bean Network, a non-profi t organiza-

tion which supports the dry bean indus-try and Colorado Dry Bean Administra-

tive Committee in Colorado. We are pleased to offer advertisement access to

our subscribers.

Circulation:• 2000 Bean Growers and Dealers in

Colorado and Adjacent AreaPublisher:• Colorado Bean NewsEditor&Layout:• Mark S. McMillan

Advertising Rates - b/w Ads: ¼ Page - $150 ½ Page - $300 ½ Back Page - $400 Full Page-Interior - $500

Ad Submission Deadlines: • Spring Issue 2016 – Dec. 1, 2015• Fall Issue of 2016 – July 1, 2016• Spring Issue 2017 - Dec. 1, 2016

Contact: • Mark McMillan (970-481-5437)• Mark.mcmillan@ColoState.EDU

CBN Archives & Web Site:• www.csuag.com/cbn

COLORADOColoradoDry BeanDRY BEAN

S

BrazilIn 2016, Brazil's dry bean production

is projected to drop signifi cantly due to the following reasons:

CROP DIVERSIFICATIONBrazilian farmers usually decide to

grow dry beans when they can obtain a premium over the main crop of each season. And in spite of the bullish trend in the bean market, soybeans proved to be a better—and safer—option for growers in the fi rst 2015-16 campaign.

WEATHER ISSUESCrops were hit by one of the stron-

gest El Niño events in recent years, which brought heavy rains to Brazil's dry bean heartland in the south and sustained drought in the arid northeast.

LOW CARRYOVERState-owned carryover stocks of

carioca beans—which account roughly for 70% of the country's dry bean consump-tion—have been dropping steadily since last year.

0

10000

20000

30000

40000

50000

60000

70000

State-owned carryover stocks of carioca beansMetric Tons

CONAB REVISES DRY BEAN CROP DOWNConab’s latest report revised Brazil’s

dry bean production for 2015-16 down by 4% from last month on lower seeded area and yields—especially for the second and third campaigns. Th e output of the third harvest was revised down by 7.5%.

Brazil’s Dry Bean Production 2015-16, as reported by CONAB

Bean prices may decline slightly in coming days with the output of the third harvest. However, traders agree that they will remain fi rm on tight supplies until December, when the fi rst 2016-17 harvest normally kicks off in Sao Paulo State.

MARKETING EFFORTSPinto Bean Sampling at ABERC's Monthly ConventionWe had a pinto bean sampling at the latest convention of ABERC, the Brazil-

ian Association of Food Service Companies, which represents since 1984 over 80 food service companies and its suppliers. More than 20 key decision-makers of some of the biggest companies within the Brazilian food service industry tried cooked pinto bean samples (which in Brazil are being marketed as feijao tigre -tiger beans-).

“Everyone within the Brazilian food service industry has great expectations with the introduction of this new bean variety. Just like the people featured on the market research you presented, we all tried and just loved the taste and appear-ance of tigre bean,” Luis Mau-ricio Leme, Supply Manager at ABERC, said.

Brazilian Food Service Industry: Meals per Day (in millions)

10 Colorado Bean News - Volume 29 Issue 2 - October 2016

ColombiaGeneral economy

Th e Colombian government and the FARC have begun a pilot program to substitute other crops for coca. Th e pilot scheme, which is being implemented in 10 villages in Antioquia, is a ‘gesture of trust’ after the ceasefi re deal, which was agreed in June. Th is is the fi rst time the FARC and the government have collaborated and such schemes and the hope is that this will lead to further schemes to replace illicit crops throughout Colombia. Th is gradual process is expected to replace coca pro-duction in an estimated 96,000 hectares. 60,000 plus farmers are directly involved in coca production, according to the UN.

A deal has been agreed July 23rd with the Truckers union, ending their 45 day strike. Food prices rose sharply last month after deliveries were blocked to the central Mayorista and local supermarkets.

Food prices in Colombia are show-ing signs of decreasing after the end of the strike according to a report by Central Mayorista, Medellin. Th e impact of the truck strike was higher in Antioquia and not that high in Bogota.

Imports of Agricultural products rose by 25% in the fi rst quarter of this year compared to the same period in 2015. April was the biggest month for agri-cultural imports during the last 20 years, according to a report by SAC. Corn, soya and wheat accounted for 73% of total importations during this period. Low na-tional production and cheaper internation-al products have been the main reasons for record number of importations this year.Weather

Th e probability of the weather phe-nomenon ‘La Niña’ aff ecting Colombia later this year has dropped to 55% from 76% after weather conditions neutralised in July.Dry Bean Market Update

Importers in both Medellin and Bo-gota have seen substantial prices changes in the dry bean market during the last month. Biggest prices changes were seen in Antioquia Department.

Th e most popular dry bean in An-tioquia, the Cranberry bean, was selling at 9,000 COP per KG last month but has now declined to 4,500 COP/KG by

the last week of July. Th e average price for the Cranberry has been around 7,000 COP this year. Th e Cranberry bean saw an amazing price variation of 68,2% between 6th June and 15th July, according to a study by Bolsa Mercantil.

Superb yields from recent harvests and the truck strike were two main factors aff ecting prices, according to local import-ers based in Medellin. Although produc-tion of dry beans was high, importers could not receive their products during the 45-day strike. As a result, prices were up by 30%. After the strike concluded, prices declined on high supply by nearly 35% compared to this year’s average price.

Dry bean prices have declined this month, for example the popular Bola Roja bean has decreased 10-15% in July ac-cording to one local importer. Granos San Pedro are seeing the benefi ts of a success-ful promotional campaign and report that the American Pinto Bean is ‘taking off ’ in food tastings in local supermarkets.

Central AmericaAccording to UN’s FAO, prices of red

beans followed mixed trends but remained well below their levels in July last year as a result of good supplies from the 2015 har-vests and adequate volumes of imports. In El Salvador, the subregion’s main importer of red beans, prices declined and were more than 40% below their levels a year earlier. By contrast, in Honduras and Nica-ragua, red bean prices increased seasonally in July, although remaining some 20% down from a year earlier, refl ecting ample supplies from the 2015 harvests.

In Guatemala, where black beans are the variety mostly consumed and pro-duced, prices declined slightly in July, after the increases of the previous fi ve months, mainly refl ecting recent imports from Mexico and China, FAO says.

Nicaragua Nicaragua is the main bean producer

and exporter of the subregion with three annual harvests: Primera, which is planted between May and June; Arrastre, in June; and Postrera, in August-September. Prim-era season harvest has just started amid normal weather conditions. Th ere are no fi gures released yet but traders estimate

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an average crop of around 1 to 1.1 million cwt (45,000 to 50,000 MT).

In terms of production by bean type, higher demand from Venezuela drove black bean area up in Nicaragua in recent years—especially in 2013-14. However, with imports to the South American nation plummeting in 2014, 2015 and 2016, the area under black beans dropped sharply.

Red beans should account today for roughly 90-95% of the total dry bean output.

Dry bean exports to almost all main markets have increased in 2015-16. Traders pointed out that due to weather problems in El Salvador, dry bean shipments to the main importer in the subregion have increased signifi cantly compared to last year.

Costa RicaSeveral articles released in July in Costa Rican media say that

the country may face a dry bean shortage in 2016. As a conse-quence, the National Production Council (Consejo Nacional de la Produccion, CNP) recommended that the Government should declare a state of emergency to import duty-free dry beans. How-ever, this information is not entirely accurate. Production and Demand

Costa Rica’s dry bean production usually covers 26 to 31% of the country’s total demand, estimated at 47 thousand MT.

Th ere is a trade agreement with China underway, which allows to bring in 10 thousand MT of duty-free dry beans every year. Since this is not enough to cover domestic demand, every year the Government declares a state of emergency for additional duty-free dry bean imports (mainly reds and blacks). Th is tax exemption is valid for all countries.

What changed this year is the total amount of beans included in the state of emergency: From 4,829 MT last year to 10 thou-sand MT this year.

Big Fertilizer Merger In The WorksSeptember 16, 2016 - By: Eric Sfi ligoj - CropLife.com

If you are a fan of consolidation in agriculture, 2016 has been a banner year so far. Not only are large crop protection product companies talking merger, but several ag retailers – particularly those in the cooperative arena – have as well. Perhaps somewhat quiet on this front has been the fertilizer sector.

According to reports, Potash shareholders will own approxi-mately 52% of the new company with Agrium shareholders hold-ing the balance. Th e company will be headquartered in Saskatoon, SK, and lead by Agrium Chief Executive Chuck Mango with Potash CEO Jochen Tilk serving as Executive Chairman.

Of course, readers might remember that this isn’t the fi rst time Potash has taken part in the merger process. Back in 2010, Anglo-Australian mining company BHP Billiton Ltd. attempted a hostile takeover bid for the company. However, the Canadian government ultimately stepped in to oppose the deal.

Th is time is diff erent, say market watchers, because both companies are Canadian-based, so regulators in the country are less likely to object to the pairing. Right now, analysts expect the deal to be fi nalized by the middle of 2017.

But no longer.Canadian fertilizer giants Potash Corp. of Saskatchewan Inc.

and Agrium Inc. have announced that the two companies have agreed to a merger of equals following a few weeks of prelimi-nary talks. Th e newly combined company will be the largest crop nutrient supplier in the world with revenues in the $36 billion range. In the North American marketplace, the newly merged company would control nearly two-thirds of the potash capacity, 30% of phosphate production, and 29% of nitrogen capacity.

12 Colorado Bean News - Volume 29 Issue 2 - October 2016

Ag Exports UpAg exports forecast to pick up and possibly return to 2009 levels in 2017.

Good news all around.

WASHINGTON, Aug. 25, 2016 - U.S. agricultural exports will total $133 billion in the fi scal year starting Oct. 1, up $6 billion from the revised forecast for the current year, USDA said today in its fi rst projection for FY 2017. After two years of declines in exports, the department said the forecasts indicate farm exports have begun to rally again.

Th e increase in overseas shipments is largely due to higher exports of oilseeds and products, horticultural goods, cotton, livestock, dairy and poultry, according to the quarterly report by USDA’s Foreign Agricultural Service and the Economic Research Service.

“Th ese numbers once again dem-onstrate the resiliency and reliability of U.S. farmers and ranchers in the face of continued challenges,” Agriculture Secre-tary Tom Vilsack said in a statement. He said the projections for the next fi scal year, if realized, would be the sixth highest on record.

Th e report projects the country’s ag-ricultural trade surplus for FY 2017 rising to $19.5 billion, up 40 percent from the expected $13.9 billion this year. Th e U.S. has continued to post an agricultural trade surplus since recordkeeping began in the 1960s, USDA said.

Vilsack made special mention of an expected growth in demand for U.S. beef, pointing out that shipments of the meat are expected to reach $5.3 billion in 2017, well above the $1.5 billion exported in FY 2004, following the discovery of a case of mad cow disease, or BSE, in December 2003.

“U.S. beef exports have recovered,” Vilsack said, citing a rise in global eco-nomic growth and eff orts by the Obama administration to eliminate BSE-related restrictions in countries around the world, including 16 countries since 2015.

Some other highlights of the report:• China is projected to return as the Unit-

ed States’ top export market in 2017, surpassing Canada as the number-one destination for U.S. agricultural goods. Th e country’s purchases are expected to

be $3.5 billion higher than the current year, due mostly to increased soybean, tree nuts and pork exports.

• Exports of oilseeds and related product exports are seen rising $2.7 billion, to $31 billion in 2017, driven by record soybean shipments and higher unit val-ues. Limited export availability in South America during the fi rst half of the marketing year also supports projections for a higher export volume.

• Fiscal year 2017 grain and feed exports are forecast at $29.3 billion, unchanged from the 2016 estimate as higher wheat and corn exports off set reductions in sorghum. Wheat is forecast at $5.1 bil-lion, up $100 million from 2016.

• Rice exports are forecast to remain at $1.9 billion, with an increase in volume off set by a decline in value amid record supplies.

• Cotton exports are projected to rise $900 million due to sharply higher U.S. production and tighter foreign stocks.

• Exports of livestock, dairy and poultry products are seen up $800 million, pri-marily due to higher poultry and dairy shipments.

• Grain and food exports are forecast unchanged at $29.3 billion, as higher wheat and corn shipments off set reduc-tions in sorghum.

• Th e fi scal 2017 export forecast for horti-cultural products is $34 billion, up $1.4 billion from the 2016 estimate. Fresh fruit and vegetables are forecast down $200 million to $6.8 billion, based on lower shipments to Canada and Mexico.

• Th e report also forecast agricultural imports at $113.5 billion, $400 million higher than FY 2016.

• USDA revised the forecast for exports in the current fi scal year to $127 billion, up $2.5 billion from the previous predic-tion. Th is would bring total agricultural exports since 2009 to more than $1 tril-lion, “smashing all previous eight-year totals,” Vilsack said.

• “Exports are responsible for 20 percent of U.S. farm income, also driving rural economic activity and supporting more than one million American jobs on and off the farm,” Vilsack said, using the report to push for approval of interna-tional trade agreements.

NEW BEAN BULLETIN !!Order your copies by contacting:Mark.McMillan@colostate.edu

970-481-5437

Beans, wine, and best friends? Se-crets of longevity from 'Blue Zones'

Dan Buettner - TODAY

Th e only thing better than looking good as you age is feeling good as you age. Luckily, Dan Buettner, who joined TO-DAY Wednesday, has the simple secrets to help us live to a healthy 100 years old. For years, he's traveled the world in search of the places where people live the longest, and he's named these areas "blue zones." Th ey're regions with the highest popula-tions of centenarians.

Buettner is the author of "Th e Blue Zones Solution" and he's also a Na-tional Geographic Fellow. He's identi-fi ed fi ve zones as being "blue," and those are: Ikaria, Greece; Okinawa, Japan; the Ogliastra region of Sardinia; Loma Linda, California; and Nicoya, Costa Rica. With high concentrations of individuals who live to be 100 years old without preventable diseases such as diabetes, heart disease and obesity, Buettner's research just might hold the key to the secrets of longevity. Here, he shares strategies from three important zones around the world.

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• “Th e United States has the opportunity to expand those benefi ts even further through passage of new trade agree-ments such as the Trans-Pacifi c Partner-ship,” Vilsack said. “Such agreements are key to a stable and prosperous farm economy, helping boost global demand for U.S. farm and food products, increas-ing U.S. market share versus our com-petitors, and ensuring that our farmers and ranchers have stable and predict-able markets for the quality goods they produce.”

Rebecca Bratter, Executive Director

US Dry Bean Council - website: www.usdrybeans.com

Facebook: https://www.facebook.com/USDryBeanCouncil

Twitter: https://twitter.com/drybeancouncil

Robots And DronesAg Robots And Drones May Be A $10 Billion Market By 2022

September 7, 2016 Posted By: Matt Hopkins

Robots and drones have begun to qui-etly transform many aspects of agriculture. In fact, the IDTechEx Research report on Agricultural Robots and Drones 2016-2026: Technologies, Markets, and Play-ers fi nds that this is already a $3 billion market in 2016, growing to $10 billion by as early as 2022

Th e report analyzes how the robotic market and technology developments will change the business of agriculture, enabling ultra-precision farming and helping address the key global challenges. It develops a detailed roadmap of how robotic technology will enter into diff erent aspects of agriculture, how it will change the way farming is done and transform its value chain, how it becomes the future of agrochemicals business, and how it will modify the way we design agricultural machinery.

Th e report provides segmented 10-year market forecasts for several categories of agricultural robots and drones. Here are some of the highlights.

Autonomous tractors: Tractor guidance and autosteer technologies are also going mainstream thanks to improvements and cost reductions in RTK GPS technology. More than 300,000 tractors equipped with autosteer or tractor guidance will be sold in 2016, rising to more than 660,000 units per year by 2026. Unmanned autonomous tractors have also been technologically demonstrated with large-scale market in-

troduction largely delayed not by technical issues but by regulation, high sensor costs, and the lack of farmers’ trust.

Agricultural drones: Unmanned remote-controlled helicopters have been spraying rice fi elds in Japan since the early 1990s. Autonomous drones have also been providing detailed aerial maps of farms, enabling farmers to take data-driven site-specifi c action. Th is development will soon enter its boom years as regulatory barriers lower and the precision farming ecosystems fi nally comes together. In time, the drone hardware will become commod-itized and value will shift largely to data acquisition and analytics providers. Agri-culture will be a major market for drones, reaching $485 million in 2026.

Robotic weeding implements: Vision-enabled robotic implements have been in commercial use for some years in organic farming. Th ese implements follow the crop rows, identify the weeds, and aid with mechanical hoeing. Th e next generation of these advanced robotic implements is also in its early phase of commercial deploy-ment. It will be using large troves of data to train its algorithms using deep learning techniques. Th is will become a $380 mil-lion market by 2026.

Unmanned autonomous robotic weed-ers and data scouts: Vision-enabled and in-telligence robots are increasingly reaching navigational autonomy. Th ese small, slow, and light robots will be autonomously

roaming farms, analyzing plants, and tak-ing specifi c actions, such as eliminating a weed. Already, numerous companies and groups have developed and deployed a variety of weeding robots.

Most products are in prototype or semi-commercial trail phase. Th e fi rst notable sales have also taken place aimed at small multi-crop vegetable farmers. Th is will become $300 million market by 2026.

Fresh fruit harvesting: Despite non-fresh fruit harvesting being largely mecha-nized, fresh fruit picking has remained mostly out of the reach of machines or robots. Progress here has been hampered by the stringent technical requirements together with the lack of CAD models and the fragmented nature of the market putting off investment. Th is is, however, beginning to change, albeit slowly.

A limited number of fresh strawberry harvesters are already being commercially trialed while fresh apple and citrus har-vesters also have reached the level of late stage prototyping. Market adoption will start from 2021 onwards, reaching $230 million by 2026.

14 Colorado Bean News - Volume 29 Issue 2 - October 2016

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China Harvest ReportUSDBC / Fairman International Business Counsulting, Inc, - August 20-31, 2016

2016 China total new dry bean harvest will be ap-proximately as follows. Every category except for purple speckled kidney beans is below half of the normal 10 year average production.

LIMA BEANS . . . . . . . . . . . . . . . . . . . .30,000 TONSDARK RED KIDNEY . . . . . . . . . . . . . .28,000 TONSXINJIANG CRANBERRY . . . . . . . . . . .8,000 TONSPURPLE & RED SPECKLED . . . . . . .50,000 TONSHEILONGJIANG CRANBERRY . . . . .8,000 TONSLIGHT SPECKLED KIDNEY. . . . . . .50,000 TONSNAVY BEANS . . . . . . . . . . . . . . . . . . . . .8,000 TONSOTHER WHITE BEANS. . . . . . . . . . .10,000 TONSBLACK BEANS . . . . . . . . . . . . . . . . . . .28,000 TONSTOTAL BEAN PRODUCTION . . . .220,000 TONS

A best estimate of total Chinese dry bean production over the last decadesuggests a rapid decline in produc-tion since 2011. In 2013 the planted area was actually slightly larger than 2012 but there was a historic fl ood that destroyed half of the beans late in the harvest season. Th ere have been two large step changes in planted area, as the Qiqihar region stopped bean planting in 2012 and the Nehe region stopped planting beans in 2015.

Falling Crop PricesSept. 2, 2016 - By BILL HORAN - Rockwell City, Iowa

Th e U.S. Department of Agriculture announced last week that it will spend $20 million to buy 5,500 tons of cheese from American dairy farmers. Th e food will be given to families in need, but charity is only a byproduct: Th e purpose of the purchase, according to a USDA press release, is “reducing a cheese surplus” and “assisting the stalled market-place for dairy producers whose revenues have dropped 35 percent over the past two years.”

By recent standards, this isn’t exactly a massive bailout—we’re talk-ing millions of dollars, not billions—but it could be an ominous sign of things to come. All across American agriculture, production is up and prices are down. Th is fall, on my farm in Iowa, I expect to have a bumper crop of corn, growing more than 200 bushels an acre. But corn prices have tanked, dropping to about $2.85 a bushel today from $6.50 three crop-seasons ago. When I go to sell at the local elevator I expect to lose as much as $1.50 a bushel.

Other farmers who grow diff erent crops will suff er large losses as well, many for the third year in a row. Cutting back on production wouldn’t help because farmers have substantial fi xed costs—rent, land taxes, insurance, depreciation of equipment, seasonal labor. So instead we’re going to hear more demands for emergency aid.

Th e National Milk Producers Federation probably hopes that the USDA’s recent cheese purchase is only a down payment. In an Aug. 12 letter to Agriculture Secretary Tom Vilsack, the federation requested up to $150 million in special assistance. Th e same day, Sen. Jerry Moran, a Kansas Republican, asked Mr. Vilsack to buy up excess wheat. Boosting the ethanol mandate from a 10% blend to 10.5% or even 11%, a discus-sion that is beginning in the ag community, would help corn farmers, though it would also raise gas prices.

Perhaps a few of these short-term measures make sense. But even if they don’t, many farmers will applaud them, joined by the bankers and suppliers who want to be paid back for the farm loans they’ve made and the tractors they’ve sold.

Th e calls for help could grow even louder in another few weeks: We’re on the threshold of what might be the biggest harvest in the history of American farming. In my area, the weather has been about perfect, with hot days, cool nights and timely rains, plus no major storms or fl ooding. I’m hearing similar reports from farmers who grow wheat and soybeans in other states. Advanced seed technologies, improved crop protection and the revolution in precision agriculture are helping Ameri-can farmers grow more food than ever before.

Normally this would be excellent news. Yet we’re in a moment of oversupply and weak demand, caused by three consecutive years of good weather. On top of that, the strong dollar discourages exports. Th is year’s huge harvest will make a bad problem worse.

Most farmers will simply have to tough it out. Some years, when both yields and prices are high, we hit it big. In 2013, I remember pull-ing 200 bushels an acre when prices were roughly $6.50 a bushel. Th at’s when farmers have to save our money for days like these. Over time, we enjoy gains, suff er losses and eke out a living.

Th ere’s an old saying that the cure for cheap corn is cheap corn. Today’s oversupply will persuade many farmers to switch to other crops, such as millet or pinto beans. Next year’s commodity markets could look very diff erent, depending on everything from the weather to those thou-

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sands of individual choices that farmers will make in the coming months.

Lawmakers in Washington, D.C., probably can’t stop themselves from react-ing to the problems of the moment. But if they really want to help American farm-ers they’d be wiser to focus on expanding long-term opportunities. Foreign custom-ers already buy more than $130 billion in U.S. farm products each year according to the USDA. Th at includes more than $20 billion of soybeans and oilseeds and nearly $6 billion in beef. Asian countries might be encouraged to buy even more, if only Congress would approve the Trans-Pacifi c Partnership, the proposed trade agreement between the U.S. and 11 other nations.

If TPP passes, annual farm exports will increase by $7.2 billion in the next 15 years, according to estimates by the U.S. International Trade Commission. Th e benefi ts would spread across American agriculture, but here are a few of the big-gest bumps: $721 million in new deliveries of fruits, vegetables and nuts to Vietnam; $840 million in new beef exports to Japan; $1.2 billion in new dairy sales to Canada.

Compared with that, what’s $20 million in government cheese? Farmers don’t need aid programs—we need trade programs. Customers are a much better and more reliable source of revenue than taxpayers.

Mr. Horan grows corn and soybeans with his brother on a family farm. He is the chairman of the Global Farmer Network, a pro-market advocacy group.

09/16/16

Budget2016 2016 vs.

Budget Actual ActualAssessments 75,000$ 77,620$ 2,620$ Interest 36$ 36$ Total income 75,000$ 77,656$ 2,656$

Research 26,900$ 26,900$ -$ Bean consortium-WY, ID and CO 10,000$ -$ Dues and promotion 8,500$ 8,598$ (98)$ Administrative 1,500$ 1,500$ -$ Bean Talk Newsletter 6,000$ 3,000$ 3,000$ Refund of assessments 500$ 1,676$ (1,176)$ Legal and audit 1,000$ 1,000$ -$ Web site 150$ 39$ 111$ Telephone/Postage/Printing 60$ 11$ 49$ Travel 3,000$ 997$ 2,003$ RMBDA and regional meeting expensis 1,000$ 1,000$ Marketing information for newsletter 3,500$ 3,500$ Travel for Cuba mission 3,000$ 3,000$ Other (for promotional or meeting expenses) 5,000$ 3,250$ 1,750$ Total Expenses 70,110$ 46,971$ 23,139$Excess (Shortage) of revenue over expenses 4,890$ 30,685$ 25,795$Cash on hand 37,000$ 85,432$

2015Forecasted CWT 731,000 Revised CWT 1,058,000RMBDA Estimate

COLORADO DRY BEAN ADMINISTRATIVE COMMITTEE2016 BUDGET

as of August 31, 2016

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