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PEANUT MARKETING NEWS – November 13, 2019 – Tyron Spearman, Editor (148)
NATIONAL POSTED PRICE SHELLED MKT PRICE MARKET LOAN WEEKLY PRICES
from USDA each Tuesday at 3 PM, USDA - 9 - Mo. loan Average prices (USDA)
Good til Next day at 12:01 am EST. insp. = Inspected Marketing by type
Week- Nov. 12, 2019 Date – Nov. 12, 2019 Farmer stock tons Date – 11-1-2019
$424.13 per ton/Runners Shelled Runners/ 2017 Crop 2018 Crop Runners - $.194- $388 t
$416.70 per ton/Spanish Jum - $.45, Med- $.46, Date 11-13-2018 11-5-2019 Spanish - $.487 - $974 T
$430.94 per ton/Valencia Splits - $.44 lb. Loans 2,735,144 2,339,947 Virginia – $.230- $460 T
$430.94 per ton/Virginia 11-10-18 Jum $.47,Med. $.46 Redeemed 2,731,160 2,317,887 Average - $.208- $416 t
NEW NATIONAL POSTED Splits - $.45 In Loan 3,984 22,060 Runners – 106,566,000 #
PRICES 11-10-17 Jum $.49 Med$.48 Estimate 3,616,800 2,730,800(F) Virginia – 17,396,000 #
Final inspec 3,537,849 2,744,494 t Spanish – 3,927,000 #
2019 U.S. Peanut Planted Acreage (Nov) Estimate – 1,383,000 acres - 1% increase over 2018 TOTAL – 127,889,000 #
2019 Crop USDA Estimate- 1,383,000 acres harvested X 4,080 lbs. ac = 2,821,350 tons DOWN 1.2 c/lb
Prices Received by Jul 2019 Aug 2019 Sept 2018 Sept 2019
Farmers $.206 $.205 $.223 $.198
$412 ton $410 ton $446 ton $396 ton
2018 Loan July – 4,559 Aug - 37,418 Sept 37,838 Oct 4,736 November Dec & Jan TOTAL LOAN FORFEITS
MATURITY Forfeits Forfeits Forfeits/168 Forfeits 19,252 2,492/314 22,060 84,719 t
PQ IS PUBLISHED – PQ, a magazine from the National Peanut Board has been published for the 2019 FALL edition. This issue is
the FOOD TRENDS ISSUE: Putting Your Best Plant Forward! There are also feature articles on “The Plant Forward Movement,
“Restaurants and University Dining,” and “International Food Trends” If you did not get an issue, contact the National Peanut Board
at peanuts@[Link]. Lots of good news about peanuts and future trends are in this issue.
PEANUT MARKETING CHATTER (Broker Talk)
* Overall US peanut crop production is estimated to be 2,821, 350 FST, a 3% increase from last month, and up 3% from 2018.
* Yields are forecast to be 4,080 lbs./acre, up 116 lbs. from last month and up 79 lbs. from 2018 (4,001).
* Georgia, the largest peanut producing state is projected to harvest 660,000 acres with an average yield of 4,300 lbs./acre.
* Crop quality will be the biggest issue for '19 crop peanuts, especially SE runners.
* Market has firmed in recent weeks and has started to move up.
Last week’s report comes as a bit of a surprise given the tone of the market and the direction it has been heading these past
couple of weeks. With the prolonged hot and dry conditions that the Southeast experienced I can't see how the yields were taken up in
Georgia and Alabama. Shellers are reporting that the last 15% of the SE crop is of very poor quality and aflatoxin is going to be
worse than the 2016 crop and could rival 2010. Shellers for the most part haven't run enough '19 crop peanuts to have a good handle
on exactly how big the problem is, but chemical testing of farmer stock shows
aflatoxin is going to be an issue that will be dealt with all year long. Harvest
conditions in Texas have worsened with cold and wet weather hampering
harvest.
Because of the issues it has become difficult to get offers for calendar
2020 runner peanuts. Market indications are that splits and mediums have
moved into the high $0.40's FOB SE for USDA negative afla material blanched
jumbos are being indicated in the high $0.50s and low $0.60's depending on
spec and sheller. Tight spec domestic and EU spec is not being offered and
might be awhile before any decent volumes get offered at a time when the
industry has a better handle on exactly what we are dealing with.
AMERICAN PEANUT COUNCIL WINTER MEETING - The deadline for
reservations at our exclusive rate for the Watergate Hotel in Washington, DC
has been extended to Monday, November [Link] the hotel at 1 (855) 256-
3966 and state that you are attending the American Peanut Council Winter
Conference 2019, December 11 & 12. Contact Christina Taylor or call 703-
838-9500 sponsorships, exhibit or advertising opportunities.