`

PEANUT MARKETING NEWS – February 24, 2021 – Tyron Spearman, Editor (23)
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 23, 2021 Date – 2-23, 2021 Farmer stock tons Date – 02-13-2021
$424.55 per ton/Runners Shelled Runners 2019-20 Crop 2020-21 Crop Runners - $.206- $412 t
$415.57 per ton/Spanish 2020 Crop - $.50- $.55 lb. Date 3-3-2020 2-23-2021 Spanish - $.234 - $468 t
$428.74 per ton/Valencia 3-3-20 Jum$.67,Med.67, $.66 Loans 2,340,990 2,435,254 Virginias - None
$428.74 per ton/Virginia No sellers /delivery top priority Redeemed 498,864 636,041 Average - $.207- $414 t
Same as last week 3-3-19 Jum $.46 Med, $.45 In Loan 1,842,126 1,799,213 Runners –150,913,000
Splits $.44 Estimate 2,748,043 t 3,067,168 t Virginia – None
Feb 28, 2021 (2020 crop) Inspected 2,752,280 t 3,099,739 t Spanish – 7,458,000#
2019 Crop USDA Estimate- 1,389,700 acres harvested X 3,934 lbs. ac = 2,733,243 tons TOTAL –158,371,000 #
2020 Crop USDA Estimate (Final)- 1,616,000 acres harvested X 3,796 lbs. ac = 3,067,168 tons UP 0.5 ct/lb
2021 Farmer Stock Contracts – $500 per ton /$475 per ton, plus $25 per ton premium on seed and/or High Oleic (HO)
Runner Pool - $425 per ton now and dividends will be determined at the end of the season.
Mini-Max Runner Pool – Pool has $400 per ton minimum and $500 per ton Max – This week - $475 ton.
Flex Contract (per shelled mkt price: Shelled med runner of $.53 lb = $475 per ton, Max flex of $.63 lb = $600 per ton
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
NEW LEADERS IN USDA AGRICULTURE – USDA has appointed of Gloria Montaño Greene as Deputy Under Secretary for
Farm Production and Conservation (FPAC) and Zach Ducheneaux as Administrator of the Farm Service Agency (FSA). They will
begin their positions on Monday, Feb. 22. Montaño Greene is a former State Executive Director for the Farm Service Agency in
Arizona and currently serves as Deputy Director for Chispa Arizona, a program of the League of Conservation Voters focused on the
empowerment of Latino voices.
Ducheneaux is the current Executive Director of the Intertribal Agriculture Council, the largest, longest-standing Native
American agriculture organization in the United States; the Council represents all Federally Recognized Tribes and serves 80,000
Native American producers. He operates his family’s ranch on the Cheyenne River Sioux Reservation in north central South Dakota
with his brother.
GLOBAL PEANUT NEWS - Strong demand by CHINA’s crushing sector, which has seen RISING PEANUT OIL PRICES, has
been the primary driver in CHINA’s domestic peanut market, and also affecting other global markets.
In Argentina, the week (Feb 8 -13) remained without rains, with abnormally low widespread temperatures, with minimum
temperatures below 12-13 ° C, very high relative humidity.
CHINA’S NEW SUPPORT PRICE/FUTURES MARKET - CHINA has generated a MINIMUM SUPPORT PRICE (MSP) for
edible peanuts in all Origins, due to its UNSATISFIED DEMAND for PEANUT OIL, demanding not only PEANUT OIL but also
IN-SHELL & KERNEL PEANUTS for its Crushing Industry.
The projection of growth of the CHINESE economy in 2021 is projected at 9%, which is the GDP of FRANCE in
MAGNITUDE, which implies more population will join the middle class; being another factor of DEMAND for higher value foods
such as the peanut oil.
The PEANUT FUTURES trading at the Zhengzhou Commodity Exchange (ZCE) in central China's Henan Province, can
help improve China's fats and oils market system and ensure the safety of the sector. The launch of PEANUT FUTURES comes
amid CROP PRICE VOLATILITY, and is part of the government's effort to enrich the FUTURE MARKET for agricultural
products.
Considering the price-in-sight, regulators launched FUTURE PEANUT negotiations in the hope that it would guide the spot
market. In the past, farmers only changed their planting volume without much market orientation. Now, they can judge demand for
the crop in part by gains and falls in the futures market, and that will mean more stable and market-driven supplies.