US: Crop estimates are pre- and post-hurricane

Published 2024년 11월 1일

Tridge summary

The 2024-25 peanut season has been marked by extreme weather and unexpected challenges, including two hurricanes that disrupted planting and harvesting plans. Despite these setbacks, there has been a 10% increase in planted area, leading to an estimated 14% rise in production compared to the previous year. However, hurricane damage has resulted in a projected 10% crop loss, with potential for greater losses if harvest is delayed. The domestic market has seen a decrease in usage, while export markets have experienced a 17.5% increase. Contract prices for peanuts remain low, and the upcoming Farm Bill aims to provide financial support to farmers amidst these uncertainties.

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

Original content

J. Tyron SpearmanContributing Editor The 2024-25 peanut season will be remembered as one of the most chaotic and unpredictable years in a row-crop farmer’s life. The erratic weather, including two hurricanes, tested the plans for a profitable year, and farmers had to couple proven university recommendations with “thinking outside of the box” to solve many problems. With corn and cotton not profitable, peanut planting held all the potential. However, this often means too many peanuts, which tilts supplies and pushes contract prices lower. The new season got off to a rough start with cold soils, followed by two weeks of rain and numerous bouts of severe weather from late April through June. Time was running out on planting decisions, and some planting was delayed until mid-June after the crop insurance deadline. The ...