Tag Archives: domestic markets

Consumption Soars, But A Big Crop Is Expected

peanut butter

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 »

Markets Are Quiet As Some Buying Segments Remain Closed

peanuts storage

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 »

A Good Quality Crop Is Needed In 2020

loading peanuts

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 »

Offers Reflect The Full Market Pipeline

peanut grading

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 »

Uncertain Crop Quality Makes Supply/Demand Calculations Difficult

peanuts drying

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 »

Crop conditions expected to affect final yield

peanuts, center pivot

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 »

Trade And Disaster Relief Dominate Market Talk Most Recently

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 »

Lack Of Contracting Puts Producers In Unfamiliar Position

peanut harvest

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 »

Too Many Unknowns For Market Movement

J. Tyron spearman

It is not fake news to say that peanut markets are dead. As one broker explained, “As an industry, we must find a way to sell more peanuts.” Domestically, we’re not going to turn this ship around anytime soon. As for exports, we could eventually export the 2017 forfeitures to China and maybe some peanuts from the 2018 crop, particularly ... Read More »

Wide Swath Of Industry Infrastructure Damaged

Hurricane Michael Damage to Georgia

The peanut industry has been jolted by two hurricanes this season. Florence hit North and South Carolina as harvest was about to start with flooding that caused rivers to overflow and covering crops waiting to be harvested. With about 40 percent of the Southeast peanut crop dug and harvested, Hurricane Michael plowed into the Florida Panhandle with 155 mile per ... Read More »