Pulse Forward 14 | USA's big bet on beans

THE BIG PICTURE

Karley told the GPC in early September, although he doubted there would be a similar carryover for pintos. Other trade sources put pinto carryover as high as 3-4 million CWT (152 KMT). Karley explained that a large carryover doesn't give him any sleepless nights: "We'll eventually get through those beans, but we’ll need a reduction of acres next year… When you do end up in a supply- driven year like this, it just takes time to eat through the stock." Depressed pricing – likely if harvest projections come true – may open up the U.S. portfolio of destinations. Karley thinks the USA has "got uncompetitive" in other markets in which they had previously had a foothold, such as Central and South America and Africa. Not having Mexico as an easy route may lead to a diversification and restoration of important trade routes and mean competition for the likes of Argentina, Canada, and Brazil, who all

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