Trading in the U.S. market is relatively quiet with movement only on small quantities as buyers take a wait-and-see attitude toward the new crop. A planting intentions report was due at the end of March. Farmers holding out on contracting were looking at both cotton and corn to compete for those peanut acres in 2021. This bit of leverage may ... Read More »
The 2021 season opens with lots of positive trends. The pandemic is winding down as vaccine distribution continues. Row-crop farm prices have increased going into planting season with cotton near 85 cents per pound and corn over $5 per bushel. Both are crop rotation partners for peanuts and offer the producer options to plant the most profitable crop for the ... Read More »
As the pandemic continues, the peanut market has been relatively quiet for growers and shellers. Buyers have good coverage for 2021, and shellers are not being aggressive to sell with higher prices looming. But changes in the peanut market are expected. Thanks to rising cotton and corn prices, the peanut market has a firm undertone. Corn is over $5 a ... Read More »
As COVID-19 spikes a second time, the European Union has announced a 25% tariff on U.S. peanuts and other products. The tariff went into effect on Nov. 10, 2020, as authorized by the World Trade Organization, but the market is still digesting the news and determining its potential impact. The move is a retaliation by the European Union against the ... Read More »
When COVID-19 hit, it took a while to understand the pandemic and the impact it would have on the peanut industry. With the economy shut down and families forced to stay at home, peanut butter and peanut snacks started flying off grocery store shelves as much as toilet paper and hand sanitizer. Peanut shellers had to find a way to ... Read More »
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 »
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