Chinese Bean FOBs Ease Slightly as Heatwave Looms Over North China Plain

Chinese FOB prices for mung, kidney and adzuki beans are edging mildly lower in early July, with most grades slipping 1–3% over the past week as ample stocks and cautious export demand cap upside. China’s bean complex enters July in a consolidating, slightly soft market. After a firm first half of 2026, improved import availability and steady domestic inventories are weighing on mung, kidney and adzuki prices, even as broader agricultural markets remain weather‑sensitive. Customs data signal resilient overall exports in May, but buyers are more price‑sensitive and compare origins closely. In North China, a short spell of extreme heat followed by storms around Beijing will matter mainly for logistics rather than yields at this time of the season. Near term, FOB levels look biased modestly lower, with meaningful support expected only if weather stress persists into pod‑filling or if freight and policy risks flare up again.

Prices

All prices converted to EUR at an indicative 1 EUR = 1.08 USD.

International benchmarks support this mild downtrend: external assessments show Chinese mung prices easing from Q1 highs as imports recover, while black bean indicators also describe selective export demand and buyers testing cheaper origins.

Supply & Demand

Recent analysis of China’s pulse complex describes a shift from earlier tightness to a more balanced market as import flows normalise and domestic stocks rebuild. Mung beans have moved from an early‑year rally into high‑plateau consolidation, with improved arrivals tempering further price gains. Kidney and adzuki beans are characterized as broadly stable to slightly softer, consistent with current FOB indications.

On the demand side, total Chinese exports remain solid: May 2026 trade data show an improved overall trade surplus, mainly driven by stronger exports rather than collapsing imports. However, within pulses, buyers are increasingly price‑sensitive, delaying larger purchases while evaluating alternative origins. Global overviews of dried beans confirm that importers are opportunistic and quick to switch between suppliers in response to small price differentials.

Weather & Logistics (North China, CN)

Beijing and the broader North China Plain enter a short heatwave on 3–4 July, with maximum temperatures near 37°C, followed by a drop to around 29°C and increased thunderstorm activity on 5 July. At this point in the growing season, such a brief hot spell is unlikely to materially reduce bean yield potential, provided soil moisture remains adequate and extreme heat does not persist into flowering and pod‑filling stages.

For the bean trade, the main impact is logistical. Very hot and humid conditions followed by strong storms can briefly disrupt truck movements and handling around Beijing, increasing short‑term loading and discharge risks, especially for bulk deliveries. Given current high stock levels and moderate nearby demand, these weather‑related frictions are more likely to delay shipments marginally than to trigger a sustained price spike.

Fundamentals & Market Tone

• Mung beans: Market tone has softened from earlier highs as import supply into China improves and domestic demand underperforms previous expectations, particularly from food processing segments. FOB Beijing prices reflect this with modest week‑on‑week declines.
• Kidney beans: Earlier reports of strong red kidney bean exports from China have given way to range‑bound prices, as buyers in key destinations complete near‑term coverage and compare Chinese offers with South American supply. Current Beijing FOBs show slight softness in most grades, with dark red types relatively better supported.
• Adzuki beans: After last year’s tightness, the market is now more balanced. Domestic usage is steady but not booming, while export demand remains selective. Forward fundamentals therefore look neutral to mildly bearish unless weather significantly damages the new crop.

Trading Outlook (Next 1–2 Weeks)

• Importers / Buyers: Use current softness in Chinese FOBs to secure partial coverage for Q3, especially for standard mung and non‑organic kidney beans. Stagger purchases to benefit from potential further minor downside if stocks remain comfortable.
• Exporters / Chinese Sellers: Consider modest price concessions or flexible payment and shipment terms to stimulate demand while protecting margins on organic and high‑grade lots, which show relatively better support.
• Risk Management: Monitor July–August weather in North and Northeast China closely; a shift to prolonged heat or flooding during key reproductive stages could quickly tighten balance sheets and reverse the current soft tone.

3‑Day Price Direction (FOB, Beijing, CN)

• Mung beans (organic & conventional): Slightly bearish bias (‑0.5% to ‑1% in EUR terms) as import flows and stocks remain comfortable.
• Kidney beans (all colours): Mostly sideways to mildly lower (‑0.5% to 0%) with exporter competition and selective buying.
• Adzuki beans: Sideways, with narrow ranges expected; small premium retention for organic lots.