USA: Could EU purchases help firm up the market?

Published 2023년 5월 1일

Tridge summary

The article provides an overview of the factors influencing the planting decisions for peanuts in the United States, particularly in Georgia, which accounts for half of the country's production. These factors include contract offers, cost of production, competing crops, and availability of chemicals and seed. Despite higher production costs expected, strong domestic demand and firm crop markets suggest a potential increase in peanut acreage. The article also discusses the impact of drought and high temperatures on Argentine peanuts, the interest of European Union buyers in the 2022 U.S. crop, and the decline in peanut exports to China. It emphasizes the importance of including the peanut program in the Farm Bill and increasing the reference price to provide support for farmers.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

J. Tyron SpearmanContributing Editor How many acres of peanuts will be planted in the United States and in the biggest state, Georgia? That’s what the market wants to know. With 50% of production coming from the Peach State, a 10% acreage increase is significant. It is hard to chase a market you can’t catch. The acreage planting mix is a decision influenced by items such as contract offers from local buying points and shellers, cost of production, prices and costs of competing crops, working equipment, farm labor, availability of chemicals and even seed costs and availability. After a 10% reduction last year, farmers are coming off a good year in 2022 with positive thoughts. Marketing Mix Looking ahead, farmers know an increase in costs of production is certain. So, they are looking for more this year. The current crop market is still very firm with prices in the low 60 cents per pound. Prices seem to have been buoyed by strong demand at home, and by a questionable South ...

Source: Peanutgrower