2018 Commodity Market: Peanuts

September 3, 2018

Peanuts:

Grown in:

China, southeastern region of United States (North Carolina, South Carolina, Virginia, Alabama, Georgia, Florida) and southwestern region of United States (Texas, New Mexico, Oklahoma).

Harvested in:

September and October

New crop:

The first estimate by USDA indicates the 2018 crop will be down about 15 percent from last year after reducing acreage almost 20 percent.

Prices:

The peanut crop is usually excellent in quality and if supplies could be reduced, prices would improve. Export prices have already increased.

Specifics on 2018 Peanut Crop:

    • Planting faced a drought, then followed three weeks of rain slowing the planting of about 25% of the crop.
    • There is concern around the growing carry forward, now up to 1,415,000 tons versus 1,360,000 tons last year.
    • Americans continue to increase their peanut consumption, USDA estimates another 2 percent increase this year. U.S. exports are projected to decline, mainly because of slowing demand from China.

Read More about 2018 Commodity Market Reports for:

Almonds

Brazil Nuts

Cashews

Hazelnuts

Macadamias

Pecans

Pistachios

Walnuts

Tags: commodities, commodity market, commodity report, nuts, peanuts

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