PEANUT MARKETING NEWS – January 26, 2021 – Tyron Spearman, Editor (11)

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- JAN.26, 2021 Date – 01 - 26 - 2021 Farmer stock tons Date – 01-16-2021
$424.55 per ton/Runners Shelled Runners 2019-20 2020-21 Crop Runners - $.210- $410 t
Crop
$415.57 per ton/Spanish 2020 Crop - $.50- $.55 lb. Date 1-28-2020 1-26-2021 Spanish – NONE
$428.74 per ton/Valencia 1-26-20 Jum$.55,Med.54, $.53 Loans 2,325,703 2,396,04 Virginia - None
$428.74 per ton/Virginia If specs tighter, price higher Redeemed 253,647 389,792 Average - $.210- $410 t
Same as last week 1-27-19 Jum $.45 Med, $.44 In Loan 2,072,647 2,006,272 Runners – 56,635,000 #
pending Splits $.43 Estimate 2,748,043 t 3,066,950 t Virginia – None
Jan 25, 2021(2020 crop) Inspected 2,738,623 t 3,069,443 t Spanish – None
2019 Crop USDA Estimate- 1,389,700 acres harvested X 3,934 lbs. ac = 2,733,243 tons TOTAL – 56,635,000 #
2020 Crop USDA Estimate (Final)- 1,615,000 acres harvested X 3,796 lbs. ac = 3,066,950 tons DOWN $0.2 ct/lb
2020 Farmer Stock Contracts – Runners(SE) - 2021 Crop - $475 per ton, some bonus on seed and High Oleic
2019 Loan September October November December January February TOTAL LOAN Forfeits
MATURITY 0 0 0 0 8,790 33 8,824 60 tons
Prices Received by Jul 2020 Aug 2020 Sept 2020 Oct 2020 Nov 2020 Projected PLC
Farmers (PLC $.207 $.205 $.205 $.209 $.212 Payment $.0575
2019 Program) $414 ton $410 ton $410 ton $418 ton $424 ton $115 per ton

SOUTH CAROLINA SETS PRODUCTION MEETING - Clemson University CES will offer a Virtual Production Program on
Thursday, February 18, 2021 from 6 PM until 8 PM. Registration is required.
Speakers include: Dr. Dan Anco, Clemson Extension Specialist; Dr. Kendall Kirk, Clemson Extension Precision
Agriculture Engineer; Dr. Mike Marshall, Clemson Extension Agronomic Weed Specialist and Dr. Nathan Smith, Clemson
Extension Ag Economist. To register, use Eventbrite link: https://www.eventbrite.com/e/peanut-production-program-tickets -
135909895155. In 2020, South Carolina producers harvested 82,000 acres and averaged 3,400 lbs. acre.

PEANUT FARMER STOCK CONTRACTS

2021 Contracts – SE - $475 per ton for runners plus $25 for seed production, $475 per ton plus $25 for irrigated and $25-$50 per
ton for High Oleic. Some buying points do not handle High Oleic.
- Some shellers offer a $425 per ton runner type POOL Farmer receives any dividends at the end of the season.
- Another sheller offers a $400-$500 MINI-MAX contract. Guarantee today is $475 per ton. Any price decline
cannot go below $400 or cannot exceed $500 per ton.
VC- $520 per ton for regular Virginia types (Bailey and Sullivan, etc.) plus $25 per ton for irrigated. $475 per
ton for runner type peanuts (non-High Oleic), $500 per ton for runner High Oleic + $25 per ton for irrigation
and $25 per ton for seed production.
CONTRACT NOTES
These are basic prices reported by buying points and often competitive premiums are added to get the farmer to
sign a contract. Some of these contacts are being pulled on Friday to allow reevaluation of tonnage.
Typically, each buying points receives an allocation and must allocate tonnage to farmers in his/her area.
Some shellers are limiting the tonnage on the contract to 50% of last year’s production. That means,
farmers will have to negotiate again the remaining tonnage produced.
COMMODITY COMPETITION -
Harvest time futures contracts indicated Sept. Corn at $4.69 bushel, Sept. Soybeans at $12.05 per bushel and
October Cotton at $.8064 per pound. USDA provided fuel for the commodity markets Tuesday with cuts to both
the national corn and soybean yield, but what could be the biggest potential anchor to prices in the months
ahead? If row crop farmers had the un-priced commodity today, they could easily get $5+ bushel corn, $13 per
bushel soybeans and $.80 cotton. Considering the past few years of low prices, this gets the farmer’s attention.