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PEANUT MARKETING NEWS – February 10, 2021 – Tyron Spearman, Editor (17)
PEANUT BUTTER AND PEANUTS – NUTRITION READY EVEN IF SCHOOLS CLOSE -Georgia’s peanut farmers
recognize the critical effort school nutrition partners made to feed the state’s most food-vulnerable students when COVID-19 caused
a necessary closure of schools. Georgia Peanut Commission worked with the Georgia School Nutrition Association to seek entries
from school districts highlighting their efforts in the areas of innovation, volume and community engagement. The winning districts
are Coffee County School System, Glynn County School District, Houston County School System and Tift County Public Schools.
See the details at www.GAPEANUTS.com.
TIME TO SIGN UP FOR ARC or PLC – Agricultural producers who have not yet enrolled in the Agriculture Risk Coverage
(ARC) or Price Loss Coverage (PLC) programs for 2021 must do so by March 15. Producers who have not yet signed a 2021
enrollment contract or who want to make an election change should contact their local USDA Farm Service Agency (FSA) office to
make an appointment. Program enrollment for 2021 is required in order to participate in the programs, but elections for the 2021 crop
year are optional and otherwise remain the same as elections made for 2020.
TEXAS CHANGES MEETING FOR NOMINATION-The Texas Peanut Producers Association seeks eligible peanut
producers who are interested in serving on the National Peanut Board. TPPB will now hold a nominations election to select two
nominees each for member and alternate on March 10, 2021 at 10:00 a.m. CST at Wildcatter Ranch and Resort, 6062 Highway 16.
S, Graham, Texas, 76450. Peter Froese Jr. of Seminole, Texas is the current National Peanut Board member and Jeff Roper of
Lubbock, Texas, serves as the alternate.
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- Feb 9, 2021 Date – 2-10 - 2021 Farmer stock tons Date – 01-30-2021
$424.55 per ton/Runners Shelled Runners 2019-20 2020-21 Crop Runners - $.193- $386 t
Crop
$415.57 per ton/Spanish 2020 Crop - $.50- $.55 lb. Date 2-18-2020 2-9-2021 Spanish – -$.554-
$1,108
$428.74 per ton/Valencia 2-10-20 Jum$.62,Med.61, $.60 Loans 2,340,498 2,432,646 Virginias - $.226- $452
$428.74 per ton/Virginia No sellers /delivery top priority Redeemed 342,975 538,023 Average - $.204- $408 t
Same as last week 2-14-19 Jum $.46 Med, $.45 In Loan 1,997,523 1,894,623 Runners – 48,271,000
Splits $.44 Estimate 2,748,043 t 3,066,950 t Virginia – 22,712,000 #
Feb 9, 2021 (2020 crop) Inspected 2,750,049 t 3,095,403 t Spanish – 16,000 #
2019 Crop USDA Estimate- 1,389,700 acres harvested X 3,934 lbs. ac = 2,733,243 tons TOTAL –70,999,000 #
2020 Crop USDA Estimate (Final)- 1,615,000 acres harvested X 3,796 lbs. ac = 3,066,950 tons UP 0.1 ct/lb
2021 Farmer Stock Contracts – Runners (SE) - $475 per ton, plus $25 per ton premium on seed and/or High Oleic (HO)
VC – Virginias – Some $500/$520 per ton, + $25 per ton for irrigated, Runners -$475 per ton, HO - $500 per ton
Prices Received by Jul 2020 Aug 2020 Sept 2020 Oct 2020 Nov 2020 Dec 2020 Projected PLC
Farmers (PLC $.207 $.205 $.205 $.209 $.212 $.204 Payment $.0575
2019 Program) $414 ton $410 ton $410 ton $418 ton $424 ton $408 ton $115 per ton
WHAT DID UGA FORECAST SAY? – Economists said the outlook showed that quality of the 2020 U.S. peanut crop was good.
Food use is expected to stay up, exports are also expected to be stable (up from last couple of years). Even so, ending stocks are
ample. Peanut acres are likely to be down and season average farmer prices are $450 per ton with a range of ($425-$500 per ton).
BROKER TALKS 2021 PEANUT MARKET - For 2020 crop, I argue that the actual carry-in was closer to 800M tons than the
1,059M the government reported. The reason: if supplies were available last summer, we'd never have seen $.85 peanuts.
As for 2021, I forecast a carry-out from 2020 of about 900M tons, an adequate amount but not in any way a sloppy surplus.
Given the downward trend in yields, I think we need to try to hold acres constant. This will be difficult because the 2020 crop had the
2nd most harvested aces in the last 10 years and Cotton, Corn, and Soybeans are providing robust competition for acres.
In sum, I'm bullish. Buyers would be wise to watch the commodity markets and believe shellers if they're told that a higher
Farmer Stock price will be necessary to hold acres constant.
Increasingly, I've lost confidence in the numbers reported by NASS, ERS and PS&P, and that makes it difficult for everyone
to make sound business decisions.
NEED GYPSUM? FOR SALE – Calcium Sulfate (21%) (4%), located in Pensacola, FL. Analysis upon request. Supply limited. Will
deliver or YOU haul. Call Monty Rast – (803) 707-0771 (C). Call today…Don’t be left out!!!