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PEANUT MARKETING NEWS - November 13, 2020 - Tyron Spearman, Editor

The document summarizes recent peanut market news. Runners posted at $424.55/ton, Spanish at $415.57/ton, and Valencia/Virginia at $428.74/ton for the week of November 10, 2020. Argentina's peanut area for 2020/21 is estimated to be over 380,000 hectares, around 10% more than the previous season. Argentina has remained the main supplier to the European Union due to poor quality US crops and tariffs. Two Democrats, Rep. David Scott and Rep. Jim Costa, have announced plans to run for House Agriculture Committee Chair.

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66 views1 page

PEANUT MARKETING NEWS - November 13, 2020 - Tyron Spearman, Editor

The document summarizes recent peanut market news. Runners posted at $424.55/ton, Spanish at $415.57/ton, and Valencia/Virginia at $428.74/ton for the week of November 10, 2020. Argentina's peanut area for 2020/21 is estimated to be over 380,000 hectares, around 10% more than the previous season. Argentina has remained the main supplier to the European Union due to poor quality US crops and tariffs. Two Democrats, Rep. David Scott and Rep. Jim Costa, have announced plans to run for House Agriculture Committee Chair.

Uploaded by

Morgan Ingram
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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PEANUT MARKETING NEWS – November 13, 2020 – Tyron Spearman, Editor (154)

NATIONAL POSTED PRICE SHELLED MKT PRICE MARKET LOAN WEEKLY PRICES
from USDA each Tuesday at 3 PM, USDA - 9 - Mo. loan ( Average prices
Good til Next day at 12:01 am EST. insp. = Inspected Marketing by type
Week- Nov. 10, 2020 Date – 11-11 - 2020 Farmer stock tons Date – 11-6-2020
$424.55 per ton/Runners Shelled Runners 2018 Crop 2019 Crop Runners - $.204- $408 t
$415.57 per ton/Spanish Current Crop and Date 11-5-2019 10-27-2020 Spanish - $.525 -$1,050
New Crop - $.50- $.55 lb.
$428.74 per ton/Valencia Loans 2,339,947 2,341,062 Virginia - $.227 - $454 t
$428.74 per ton/Virginia 11-10-19Jum $.45,Med 45, $.44 Redeemed 2,317,887 2,304,703 Average - $.215- $430 t
Same as last week 11-10-18 Jum $.47 Med, $.46 In Loan 22,060 36,359 Runners - 80,066,000 #
Splits $.45 Estimate 2,730,800(F) 2,733,243 t Virginia – 16,579,000 #
Inspected 2,744,494 t 2,754,165 t Spanish – 2,384,000 #
2019 Crop USDA Estimate- 1,389,700 acres harvested X 3,934 lbs. ac = 2,733,243 tons TOTAL – 99,629,000 #
NEW -2020 Crop USDA Estimate (Oct)– 1,623,200 acres harvested X 4,093 lbs. ac = 3,321,660 tons UP $1.1 ct/lb
2020 Farmer Stock Contracts – Runners(SE) - $400-$450 per ton, High Oleic + $25 per ton (+$25 to Seed Growers)
2019 Loan September October November December January February TOTAL LOAN
MATURITY 0 0 1,736 17,497 17,064 561 36,359
ARGENTINA AND SUPPLYING EU - Sources from the peanut sector assure that the Argentina peanut area for the 2020/21 season
would be above 380,000 hectares, which means 10% more than the previous cycle.
The sowing advance is around 50%. The drought that hit the central region of the country in recent months also had an
impact on the peanut cultivar, delaying the planting towards the end of October. However, the great operational capacity of the
contractors allowed to progress quickly with field tasks. Obviously, the high temperatures and winds registered in recent days cause
the soil moisture to be lost rapidly. Beyond the fact that the germination powers are very good, the cultivar needs rain to be able to
develop correctly.
The agronomist Ricardo Díaz reported: “We have been having a situation that is quite new because as a result of the
PANDEMIC ALL MARKETS HAVE ROLLED BACK, mainly the EUROPEAN UNION, which is the main market in
ARGENTINA and which is now suffering the SECOND WAVE of the COVID-19. The activity contracted quite a lot, but Argentina
has remained almost the only supplier. ARGENTINA was the only supplier because the United States, last year, had a good
harvest in volume but poor in quality, not suitable for the EU. A new 25% tariff is also impacting any U.S. sales to EU.
In the case of BRAZIL, it had an abrupt rise in prices in the domestic market that generated its exit from the international
market until its future crop in 2021. The US is harvesting in adverse conditions, with snow in Texas and rain in the Southeast.
INDIA and CHINA are not offering in EUROPE because CHINA is in high demand, and has become an aggressive importer of
PEANUT OIL. INDIA is supplying CHINA and consuming a lot domestically. From ARGENTINA, the new 2021 crop is being
sold, with a lot of intensity, since from the old 2020 crop it remains little availability. Argentina had a very good production last year,
of high quality, thanks to the weather conditions during the harvest.

LEADERSHIP IN AGRICULTURE - Eight-term Rep. Jim Costa, who represents an agricultural district around Fresno in
California’s Central Valley, announced his candidacy for chairman of the House Agriculture Committee, saying the committee
“should reflect the changing landscape of agriculture in the United States.” As the majority party, House Democrats will select the
chairman in the weeks ahead. Georgia Rep. David Scott announced his candidacy shortly before Costa entered the race. Scott, from
a mostly suburban district outside of Atlanta, would be the first Black chairman of the committee if he is chosen. Ohio Rep. Marcia
Fudge also has been mentioned as a possible candidate.
PLC NUMBERS – Peanut producers had until September 30 to update their Price Loss Coverage Program yields. Payments were
made in October for last year. The program has already recorded the first two months as the Prices Received for Peanuts (In-Shell).
The new marketing year started in August, 2020 and ends July 31, 2021.
The average price for August 2020 was $.206 per lb. ($412 ton) and September (2020) was $.205 lb ($410 per ton).

PEANUT GIFT BOX ORDERS - The Spearman Agency/NPBPA is now accepting orders for the Georgia Peanut Gift Box, an
assortment of 14 different delicious peanut products ideal of the holidays. Cost is $25 each. E-mail orders to
[email protected] or call Victoria at 229-386-0216. Supplies limited, we ship.

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