China, southeastern region of United States (North Carolina, South Carolina, Virginia, Alabama, Georgia, Florida) and southwestern region of United States (Texas, New Mexico, Oklahoma).
September and October
The first estimate by USDA indicates the 2018 crop will be down about 15 percent from last year after reducing acreage almost 20 percent.
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: