Estancia news-herald. [volume] (Estancia, Torrance County, N.M.) 1912-19??, 1920-11-18
BEAN OOPE:
(The Bean-Bag for November.)


October bean market showed still
further declines, with slight periods
of firmness. AS the month closes
the market is still weak, with varied
opinion as to its future course.
If the farmers continue dumping
their beans on the already over
stocked market, it is certain that
further decline will be shown.
This seasons crop has been abun-
dant. Last years carry-over has not
all been marketed. The financial
situation is not of the best, the
weather has been unseasonably
warm in many sections, the ten
dency in all commodities has been
downward, and bearing these points
in mind many dealers look for still
lower prices on beans.
On the other hand there are GER
tain facts that might be construed
as tending toward higher prices for
beans. The election will soon be
over-probably by the time this is
being read-and no matter which
party is victorious, tie political
horizon will be cleared, and business
should be able to go ahead with all
uncertainty vanished. There is con-
siderable unemployment, and the un-
employed will eat beans. Right here
in Michigan we have noticed a con-
stantly growing tendency on the
part of householders to buy beans
either by the bushel or by the 100
pounds. If that idea could be
spread to all parts of the country
there would be such a demand that
values would show an upward turn.
A strictly disinterested opinion
recently expressed is that beans, be-
ing now more nearly on a pre-war
basis than is any other produce, will
"go up" slightly, but not to any
great extent Any important change
is likely to be upward. 1t has been
said the farmers would not grow
beans next year if the present pric-
es continue, but if prices of other
commodities continue slumping, he
will be as well off raising beans as
other crops.
Kotenashi imports are not in large
volume as compared with year
ago. There is plentiful supply of
South American beans on the Allan
tic seaboard. No great demand any
where and little trading done,
though it is known beans are being
sold and moved in various beam
growing sections.
Bayos, blackeyes and kidneys are
ranging higher. Limas are weak.
Michigan pea Eeans at this date are
quoted around $4.75 statistically
strong, but actually showing weak
undertone.
Trinidad Bean & Elevator Co.,
Trinidad, Colo.-There is now
general feeling among the shippers
that the growers who were forced
to sell as soon as their beans were
threshed have done so, and the bal
ance are not forced into selling.
This means that these growers will
prefer holding their beans the bal
ance of the seaso n, or into next
season if necessary, in order to at
least get out on the seasons work.
If grower sells his beans on to-
days market he will do so at Sc
we're loss to himself and naturally
he will stave off selling as long as
he possibly can.
This makes us feel that the Pin
to market is now down to rock bot
tom as it is today below what it
has been for five or six years and
now being back on the pre-war ba-
sis it certainly should go no lower.
We are looking for a change for
the better just as soon as the cleo
ton is over and the results known,
regardless of the outcome.
Jenson Bean Co., Estancia. N. NJ.
We are willing to admit that we
are almost afraid to venture an
opinion as to what the future bean
market will be. We feel that the
present price of beans is not justi-
fed, as growers are receiving for
their beans, now less than the cost
of production and less than pre-war
prices.
How long this condition will last,
largely depends on the growers. AS
lorg as the grower is willing to ac-
cept present prices it is up to the
dealer to sell. A great many grow
ers in this section of the country
are now and have been storing their
beans and the banks are advancing
them SO per cent of the present
market value on warehouse receipts,
while others are accepting the pres
ent price.
We estimate that about one half
of the beans in this section of the
country are now threshed and the
yield is from thirty to forty per
cent below estimates month ago.
We believe when the 1920 crop is