c

PEANUT MARKETING NEWS – November 20, 2019 – Tyron Spearman, Editor (151)
2019 CROP UPDATE – Georgia FSIS provides the report as a service to the industry as reported by buying points. (% Nov Est)
TOTALS/date COMM. STR Loan RCT Loan Seg. 2's Seg 3's TOTAL % Nov. Est.
11/19/19 269,984 1,350,710 696,395 5,576 29,974(1.3%) 2,317,089 82.1%
11/15/18 220,465 1,448,826 593,850 3,124 3,155 2,263,141 82.7%
11/20/17 603,409 1,863,349 769,282 19,474 1,593 3,236,041 84.7%

NATIONAL POSTED PRICE SHELLED MKT PRICE MARKET LOAN WEEKLY PRICES
from USDA each Tuesday at 3 PM, USDA - 9 - Mo. loan Average prices (USDA)
Good til Next day at 12:01 am EST. insp. = Inspected Marketing by type
Week- Nov. 19, 2019 Date – Nov. 19, 2019 Farmer stock tons Date – 11-7-2019
$424.13 per ton/Runners Shelled Runners/ 2017 Crop 2018 Crop Runners - $.186- $372 t
$416.70 per ton/Spanish Jum - $.47, Med- $.46, Date 11-13-2018 11-19-2019 Spanish - $.494 - $988 T
$430.94 per ton/Valencia Splits - $.45 lb. Loans 2,735,144 2,339,947 Virginia – $.228- $456 T
$430.94 per ton/Virginia At least a penny or two higher if Redeemed 2,731,160 2,324,635 Average - $.196- $392 t
USDA afla negative material
Same as last week 11-13-18 Jum $.45,Med. $.44 In Loan 3,984 15,312 Runners – 54,799,000 #
Splits - $.43 Estimate 3,616,800 2,730,800(F) Virginia – 4,678,000 #
11-10-17 Jum $.48 Med$.47 Final inspec 3,537,849 2,744,494 t Spanish – 1,320,000 #
2019 U.S. Peanut Planted Acreage (Nov) Estimate – 1,383,000 acres - 1% increase over 2018 TOTAL – 60,797,000 #
2019 Crop USDA Estimate- 1,383,000 acres harvested X 4,080 lbs. ac = 2,821,350 tons DOWN 1.2 c/lb

Prices Received by Jul 2019 Aug 2019 Sept 2018 Sept 2019
Farmers $.206 $.205 $.223 $.198
$412 ton $410 ton $446 ton $396 ton
2018 Loan July – 4,559 Aug - 37,418 Sept 37,838 Oct 4,736 November December TOTAL LOAN FORFEITS
MATURITY Forfeits Forfeits Forfeits/168 Forfeits 13,260/17 2,034 15,312 84,719 t

ARGENTINA DROUGHT DELAYS PLANTING - The lack of significant and widespread rains continues to hinder the progress of
the planting in some parts of the Argentine peanut area. So far, the spring rains are well below the normal averages. Under these
conditions, the progress of the planted area is completely irregular in terms of the geographical location of the planted area and to the
percentage planted.
Some more fortunate producers have been able to finish their plantings, but most of them lack very variable surfaces that can
cover few hectares, up to more than 50% of what was planned. Emergence is irregular and there is concern that the lack of moisture
could impact the pre-emergence herbicides. Rain in the last few days will help Argentina growers get planted. The drought has also
impacted Brazil and South Africa.
U.S. PEANUT MARKETS (Broker CHATTER) U.S. reliable sources reported that in the US Origin all depends on what QUALITY
the Southeast will produce and how well the shellers will be able to handle it. Prices have only one way to go and that is UP, for the
next 12 months. The market for tight specifications will go up. There will probably be seen the spread between negative and tight
specs widen. EU will go at an even higher premium.
Price, it may already be higher (at Low 50’s cents or OVER). Any tighter specifications on aflatoxin will command a
premium if one can find an offer. CHINA have been buying a lot of farmer stock and shelled goods, what we don’t know is how
many were bought so far, but more importantly what will they buy for the rest of the season, especially after the Chinese New Year.
Trying to calculate the SUPPLY & DEMAND is very difficult at this point with SO MANY UNCERTAINTIES ON
QUALITY AND EXPORTS (especially to CHINA). Whatever percentage the shellers thought they had covered, that percentage
likely went down as deliveries on farmer stock contract went down. If US manufacturers are really 80% covered for this coming
season, then some suppliers are very tight overall, and probably short tight specs.