NEW

PEANUT MARKETING NEWS – May 29, 2019 – Tyron Spearman, Editor (61)
STILL NO DISASTER RELIEF – With another heat and drought disaster looming, the House on Friday failed to pass the Senate-
passed $19 billion bill providing disaster aid funding to parts of the United States hit by hurricanes, flooding, earthquakes and wildfires. Two
Republican lawmakers objected.
The House tried to pass the measure during a pro forma session by unanimous consent, since most lawmakers had left for a
weeklong Memorial Day recess the day before. Rep. Chip Roy, R-Texas, objected last week, saying the bill didn't address the humanitarian
crisis at the U.S.-Mexico border and that it was not paid for. Today, Rep. Thomas Massie R-KY, objected to pass the bill under special
procedures requiring unanimous agreement among all lawmakers.
It was unclear what would happen next. House Majority Leader Steny Hoyer said in a statement that he would be "discussing a path
forward with Members on both sides of the aisle, and we will take action as early as next week when the House meets again during pro
forma." If that does not happen, action might wait until the chamber returns next month.
PEANUT S INCLUDED IN TARIFF MITIGATION PLAN - U.S. Secretary of Agriculture Sonny Perdue has announced that the
USDA will take several actions to assist farmers in response to trade damage from unjustified retaliation and trade disruption.
The Trump Administration announced its plan for tariff mitigation following the unjustified retaliatory tariffs imposed by
China. Standing alongside President Trump in the Roosevelt Room of the White House last week was Donald Chase. Donald is a
peanut farmer from Oglethorpe, Georgia and serves on the Board of Directors for the Georgia Peanut Commission. On either side of
President Trump were two Georgia leaders – Sonny Perdue, Secretary of Agriculture from Bonaire, GA and Zippy Duvall, president
of the American Farm Bureau of Greensboro, GA.
The Administration's plan is a $16 billion aid program intended to help ease the impact of decreased agricultural purchases
from China, one of the consequences of the trade war with Beijing. The aid will include $14.5 billion in direct payments to farmers
through the market facilitation program. Peanut producers will be eligible for these direct payments. There will be three
payment installments, starting in July. Additional payments will come in November and January as needed. Producers will receive a
payment based on a single county rate multiplied by a farm’s total plantings to those crops in aggregate in 2019.
Georgia Peanut Commission Chairman Armond Morris stated, "Peanut growers are pleased that we were included in the
Market Facilitation Program (MFP). The peanut industry needs a strong export market and we will continue to work with the
Administration to expand our markets."
Another $1.4 billion will be allocated to the Food Purchase and Distribution Program to purchase surplus commodities
affected by the trade war. Those goods will then be distributed to schools, food banks and other groups. The remaining $100 million
will go to developing new export markets for American producers through the Agricultural Trade Promotion Program.
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- May 28, 2019 Date – May 28, 2019 Farmer stock tons Date – 5-18-2019
$424.49 per ton/Runners Shelled Runners/ 2017 Crop 2018 Crop Runners - $.198 - $396 t
$415.84 per ton/Spanish Jum - $.46, Med- $.45, Date 5-31-2018 5-28-2019 Spanish - x
$429.80 per ton/Valencia Splits- $.44 Loans 2,734,755 2,339,940 Virginia – $.291 - $582 t
$429.80 per ton/Virginia Redeemed 1,435,458 1,150,918 Average - $.201 - $402 t
Same as last week. 5-30-8 Jum $.49,Med. $.48 In Loan 1,299,297 1,189,918 Runners – 62,588,000 #
Splits $.47 lb. New crop+1ct. Estimate 3,616,800 2,730,800(F) Virginia.– 1,147,000 #
5-31-17 Med-$.61 Jum $.61 5-21- inspec 3,537,202 2,744,494 t Spanish - x
2019 U.S. Peanut Acreage Estimate – 1,449,000 acres, 2% increase over 2018 64,735,000 #
2019 Crop Estimate- 1,391,000 acres harvested X 4,051 lbs. ac = 2,817,470 tons UP – 0.1 cts/lb.
2017 Forfeits – 121,684 tons (Exchanged 46,390 farmer stock tons for 12,718,080 lbs of peanut butter – 75,258 tons remain)
Prices Rece.By Aug. – 2018 Sept – 2018 Oct. - 2018 Nov – 2018 Dec. – 2018 Jan. – 2019 Feb. – 2019 Mar – 2019 Projected
farmers/PLC $.220 $.222 $.221 $.212 $.178 $.222 $.215 $.160 2018 price
payments $ 440 ton $444 ton $442 ton $424 ton $356 ton $444 ton $430 ton $320 ton $430
HIGH HEAT & NO RAIN – Georgia, Florida, Alabama and South Carolina, where 70% of the U.S. peanut crop is grown, have
been hit with an early season record breaking heat wave and no rain. Farmers are gearing up with irrigation units. Usually
an early drought will cause the peanut plant to sink a taproom seeking moisture and will easily survive. However, heat of over
100 degrees F for days will cause poor stands, which leads to more disease and less production. Forecasters are predicting a
40% chance of rain on Saturday. Peanut specialists are urging growers that have not planted to wait until it rains.