Soak the beans a minimum of 6 hours and any time up until 10 hours. What you are really looking for is the skin to easily slide away from the bean and to be able to squeeze the bean and have it be somewhat soft and ready to cook. This quick soaking method makes prepping dry beans a breeze.
Soaking the beans in water for a few hours (or less) softens the dried beans and prepares them for cooking. This rehydration process also occurs in nature. Beans are a form of seed, and they can sprout when exposed to water.
You probably shouldn’t use the soak water for anything. The point of the soaking is not just to hydrate the beans, but to remove stuff you don’t want. A lot of beans, in particular kidney beans, are mildly toxic and soaking removes some of this, coupled with boiling which breaks down the toxin.
While soaking shortens the unattended cooking time of beans somewhat, the time saved is marginal and there are no other labor-saving benefits. Finally, soaking does absolutely nothing to reduce the gas-producing properties of beans.
The starchy leftover liquid from canned beans or simmered dried beans can also be used as a substitute for any stock or broth or added to thicken soups, stews and sauces

Below Text culled From NY Times

Easy, forgiving, healthy and economical, beans are a home cook’s secret weapon. Yes, canned beans are convenient, but knowing how to cook dried beans gives you flexibility, and makes for a far more delicious meal. This guide will tell you everything you need to know about preparing beans and some of their relatives in the legume family, including lentils and split peas, both on the stove and in the pressure- or slow-cooker.

Before You Start
Check for a date on the beans; freshness matters. Dried beans last up to two years, but are best cooked within a year of harvest. Always rinse beans before cooking, and check for stray rocks, twigs and leaves.

Leave substantial time for bean soaking (either overnight or using our shortcut method) and cooking. If you are short on time, choose lentils or adzuki beans, which cook quickly and don’t need soaking.

To add more flavor, consider cooking your beans in stock or broth instead of water (and see our chapter on seasonings for more ideas).

Choosing Your Bean
There are dozens of varieties of beans, but these are the ones you’re most likely to encounter. Use this list to figure out what to buy when you want them to fall apart into a soup or dal (lentils, flageolet and split peas), or hold their shape for salads (adzuki, black-eyed peas, chickpeas, cranberry and kidney). As a general rule, 1 cup dried beans makes about 3 cups cooked.

Above, from left: cranberry beans, lentils, black beans, chickpeas, red kidney beans, split peas, pinto beans and cannellini beans.

Adzuki: These small, scarlet beans cook quickly, with a sweet flavor. They’re often used in Japanese bean paste desserts, but are versatile enough for salads, soups and stews.

Black: Also known as turtle beans, these full-flavored beans are classic in Latin American cooking, usually for soups and stews.

Black-eyed peas: These small earthy-flavored beans, also known as crowder peas and cowpeas, are particularly cherished in Southern cooking.

Cannellini: These mild, starchy white beans are often used in soups and stews, particularly in Italian cooking.

Chickpeas: These nutty-tasting legumes, also known as garbanzo beans, are used all the globe in many guises: soups, stews, dips and even fried or roasted as a snack.

Cranberry: These red-and-brown speckled beans have a rich, toasty flavor. They hold their shape well for salads, soups and stews.

Fava: Dried favas, also known as broad beans, have a very strong, meaty flavor and a somewhat thick skin. Beloved in Middle Eastern cuisine, they are made into soups, stews and salads.

Flageolet: These are a creamy, smooth, pale green-to-white-hued bean from France with a thin skin. They work well for soups and purées.

Great Northern: These large white beans with a firm texture and gentle, nutty flavor are great for stews and soups.

Kidney: These large red beans are often used in salads and chili. Some people find them particularly hard to digest, but soaking and rinsing before cooking can help, as does using a pressure cooker.

Lentils: There are several varieties of these tiny legumes, ranging from shiny black beluga lentils, which remain nicely intact for salads, to orange-hued “red” lentils, which collapse into a thick purée when simmered. In between, there are brown lentils (good all-purpose lentils) and more expensive French green lentils, also called Puy lentils, which take a bit longer to cook and have a nice sweet flavor. All lentils are relatively quick-cooking and don’t need any presoaking.

Lima: Large white dried lima beans take on a velvety, creamy texture after simmering, and hold their shape well.

Navy: These small white beans have a nutty flavor, and cook more quickly than other white beans. They are the traditional choice for Boston baked beans. Like red kidney beans, they can be easier to digest if you soak and rinse before cooking.

Pinto: These are small brownish-pink beans frequently used in Mexican and other Latin American cooking, particularly for refried beans, stews and chili.

Split peas: Green or yellow split peas are small legumes often used in soups, and in the case of the yellow ones, Indian dals. They do not need to be soaked before cooking.

Soaking
Soaking your beans helps them cook faster and more evenly, and it can also make them easier to digest. If you add salt to the soaking water (in other words, make a brine), your beans will cook even faster; the salt helps break down their skins. Here are a few methods; choose the one that best fits your schedule. And keep in mind that you never need to soak legumes like lentils or split peas.

OVERNIGHT SOAKING
To soak beans the traditional way, cover them with water by 2 inches, add 2 tablespoons coarse kosher salt (or 1 tablespoon fine salt) per pound of beans, and let them soak for at least 4 hours or up to 12 hours. Drain them and rinse before using.

QUICK SOAKING
Another option is quick-soaking, which allows you to make a pot of beans within a few hours flat without sacrificing flavor or texture. Put the beans in a pot on the stove, cover with water by two inches, add salt if you like, and bring to a boil. Turn off the heat and let them soak for an hour. Drain, rinse and proceed with your recipe.

OR, DON’T SOAK AT ALL
Here’s a secret you may not know: You don’t actually have to soak your beans at all. Just add them to your pot and plan on cooking your recipe for another hour or two beyond the usual cooking time. Keep an eye on the level of liquid, adding more water, broth or stock if the pot looks dry. There should always be liquid covering your beans as they cook.

Seasoning
You can simmer beans and other legumes in nothing but plain water with salt and get great results. But before you start cooking, take a minute to add the herbs, spices, stock and aromatics that make beans even better. Even a humble onion and a bay leaf works wonders.

SALT & SPICES HERBS AROMATICS MEAT & STOCK
There’s a myth out regarding beans and salt — specifically, that you should never salt your beans before cooking because the salt keeps them from cooking through.

That’s just not true. You can add salt to your bean pot at the beginning of cooking, and your beans will be better seasoned for it.

If you’ve ever cooked beans for hours without them softening, it’s probably because you’re using old beans, or you’ve got hard (mineral-rich) water, or there’s an acidic ingredient in the pot, which can slow down cooking. Using distilled water solves the hard water problem. (And soaking your beans in salt water before cooking not only adds flavor, it can also help them cook more quickly.)

Don’t stop at salt and black pepper. Spices like cumin, cinnamon, coriander, ground chiles and allspice add depth and complexity to your bean pot and are traditional additions in many cultures. To give spices a richer character, toast them in the pot for a few minutes until you can smell them, then add beans and liquid.

Cooking
You’ve soaked your beans (or maybe not) and they’re ready for some heat. Simmering them on the stove is the time-honored method, and we’ll tell you how to do it. But you can also cook them in a slow cooker or a pressure cooker — whatever you prefer.

STOVETOP METHOD
Place your beans in your pot and cover them with at least 2 inches of water, and turn the heat to low. Stir them gently and occasionally, never letting them hit a strong boil; this can burst their skins and make them mushy or unevenly cooked. Depending upon the variety, dried beans will cook quickly (about 15 minutes for red lentils) or slowly (up to 3 to 4 hours for unsoaked chickpeas or lima beans).

SLOW-COOKER METHOD
To use a slow cooker, cover your beans with 2 inches of water or broth and salt to taste, and toss any aromatics you like into the pot. Set your machine to the low setting and cook until the beans are done, usually 3 to 6 hours. If you are cooking kidney beans, you need to boil them on the stove for 10 minutes first before adding them to the slow cooker. This makes them much more digestible.

PRESSURE-COOKER METHOD
To cook beans in a pressure cooker, place your soaked or unsoaked beans with enough water to cover by 2 inches into the pressure cooker. Add salt, any aromatics you like, and a tablespoon of neutral oil to help keep the foam from clogging the vent. Make sure not to exceed the maximum fill line for your brand of pressure cooker. This is usually around the halfway mark for beans. Cook at high pressure for anywhere from 5 to 10 minutes for small beans such as black-eyed peas, lentils and split peas, to up to 35 to 40 minutes for larger beans such as chickpeas. Soaked beans will cook more quickly than unsoaked beans.

Testing for Doneness
How do you know when your beans are ready to eat? Read on for the signs that it’s time to taste — and don’t toss that cooking liquid.

To make sure your beans are cooked thoroughly, scoop up a couple of beans and blow on them. The skin should curl and wrinkle. Then taste. They are done when they’re tender and cooked through to the center (but not mushy). Let them cool in their cooking liquid.

A tip: Don’t throw out your bean cooking liquid, that tasty pot liquor. Salt it if need be, and save it. It’s basically a rich vegetarian stock that freezes well for up to six months; use it as you would any other chicken or vegetable stock.

 

https://cooking.nytimes.com/guides/21-how-to-cook-beans

 

Finally, soaking beans helps them to cook up in about half the time.

So after the beans have soaked for a while, the soaking water now contains these elements that you are trying to eliminate  if thats your plan by soaking the beans in the first place.

And this is why the bean water is discarded. So it is best to drain the water and rinse the beans thoroughly before cooking.

 

There are many advantages to using cooking water to feed your plants. Not only is it cost effective and resourceful, the fertilizer it provides for your plants gives them a more stable and steady growth period. The water will help promote natural nutrient storage within the soil.

By the way, you can feed this water to plants. They love it

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