Stress in agriculture has never been greater. Two major hurricanes, Irma and Michael, quality problems and now germination issues, low commodity prices, COVID-19 pandemic, riots and unrest in cities, talk of food shortages, a devastating court ruling on a popular chemical product…the list seems endless. The U.S. peanut market has remained quiet during the COVID-19 pandemic. There has been no ... Read More »
The ongoing spread of the coronavirus has become one of the biggest threats to the global economy. The agricultural economy was already suffering from low commodity prices and they remain low as major markets are closed to potential buying. The loss of schools and restaurants has interrupted the food chain on a grand scale. The economy being locked down is ... Read More »
COVID-19 is bringing more stress and worry to the agriculture picture. If there is a positive in this, it is that demand for peanuts and peanut butter will increase as more people are eating at home. The easy-to-use, nutritious, go-to food makes an ideal meal or snack for families staying at home instead of sending the kids to school and ... Read More »
Never before has the U.S. peanut market been in such disarray with so many unusual circumstances as it is in 2020. The peanut market continues to rise with very thin trading volume. Prices for peanuts testing negative for aflatoxin are about 68 cents per pound for whole peanuts. Blanched material is priced in the mid-70s to low 80 cents per ... Read More »
The U.S. peanut market is said to be difficult with producers awaiting marketing signals on how many acres of peanuts to plant. Shellers are struggling to meet deliveries of current contracts and still show little interest to sell more until current contracts are filled. If a buyer does show interest and a price is offered, shellers are still choosing to ... Read More »
The peanut market has firmed up slightly as shelling of the 2019 crop gets underway. The price for shelled runner peanuts has increased from 46 cents per pound in the early season to 56 cents per pound this month. Some buyers waited and are now feeling the pinch of having to pay more for peanuts. Quality seems to be the ... Read More »
The wait and see feeling continues for the peanut industry. Peanut shellers are processing the 2019 crop. Brokers report that U.S. exports depend on the quality of Southeast-produced peanuts and how well the shellers will be able to handle it. Prices for raw-shelled peanuts have only one way to go and that is up. Tight specifications for the market will ... Read More »
The U.S. market is in a “wait and see” mode. The Southeast, where 70% of peanuts are grown, is experiencing hot and dry conditions, one of the longest such periods in history. Early planted peanuts were considered good, especially those under irrigation. However, late-planted and dryland peanuts are showing damage and increased aflatoxin. It is too early to tell the ... Read More »
Production for peanuts in 2019-20 is projected by USDA to be up 3 percent to 5.6 billion pounds based on modest increases in intended planting and yield. The NASS Prospective Plantings report showed most peanut acreage gains are expected for Texas and Florida, where cotton acreage is down 23 percent. The idea that cotton would bounce back to 80 cents ... Read More »
As the 2019 peanut crop gets planted, markets remain quiet. Buyers are aware that carry forward numbers are high and so there is no urgency to book any additional peanuts. Buyers at home and abroad are open to offers of 2019 crop, but most shellers are off the market as farmers are unwilling to contract at the sheller’s offer of ... Read More »
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