PEANUT MARKETING NEWS – November 10, 2020 – Tyron Spearman, Editor (153)

U.S. 2020 PEANUT CROP ESTIMATE – Issued by USDA’s Ag Statistics Service from updates with farmers on November 1, 2020
and acreage reported to USDA FSA by the July 15 deadline to participate in programs.
Area Harvested Yield Production
2020
State 2019 2020 2019 2018 2019 2020
Oct Nov
1,000 Acres Pounds/Acre Tons
Alabama 156.0 182.0 3,350 3,900 4,000 285,775 261,300 364,000
Arkansas 33.0 39.0 5,200 4,900 4,900 56,350 85,800 95,550
Florida 155.0 165.0 3,800 4,000 3,700 282,425 294,500 305,250
Georgia 660.0 800.0 4,170 4,500 4,500 1,437,725 1,376,100 1,800,000
Mississippi 19.0 22.0 4,000 4,500 4,500 46,800 38,000 49,500
N. Mexico 4.7 6.2 3,210 3,100 3,100 7,837.5 7,543.5 9,610
N. Carolina 102.0 105.0 4,400 4,300 4,100 189,260 224,400 215,250
Oklahoma 14.0 15.0 4,000 3,600 3,600 23,025 28,000 27,000
S. Carolina 62.0 82.0 3,800 3,800 3,800 139,000 117,800 155,800
Texas 160.0 180.0 3,050 2,700 2,700 232,000 244,000 243,000
Virginia 24.0 27.0 4,650 4,200 4,200 50,400 55,800 56,700
US TOTAL 1,389.7 1,623.2 3,934 4,125 4,093 2,747,967.5 2,733,243.5 3,321,660
2020 PEANUT CROP: Production is forecast at 6.64 billion pounds (3,321,660 tons), down 1 percent from the previous forecast but up
22 percent from the revised 2019 total of 5.47 billion pounds. Harvested area is expected to total 1.62 million acres, unchanged from
the previous forecast but up 17 percent from 2019. Based on conditions as of November 1, the average yield for the United States is
forecast at 4,093 pounds per acre, down 32 pounds per acre from the previous forecast but up 159 pounds per acre from 2019. Record
high production is forecasted in Georgia. Record high yield is forecasted in Mississippi. As of Nov. 1, sixty-six percent of the 2020
peanut acreage had been harvested, 16 percentage points behind last year,10 percentage points behind the 5-year average.
U.S. MAJOR CROP PRODUCTION ESTIMATE –
CORN - Corn production for grain is forecast at 14.5 billion bushels, up 7 percent from 2019. Yields are expected to average a
record high 175.8 bushels per harvested acre, up 8.3 bushels from last year. Area harvested for grain is forecast at 82.5 million acres.
SOYBEANS - Soybean production for beans is forecast at 4.17 billion bushels, up 17 percent from last year. Yields are expected to
average a record high 50.7 bushels per harvested acre, up 3.3 bushels from 2019. Area harvested for beans in the United States is
forecast at 82.3 million acres, up 10 percent from 2019.
COTTON - All cotton production is forecast at 17.1 million 480-pound bales, down 14 percent from 2019. Yields are expected to
average a record high 911 pounds per harvested acre, up 88 pounds from 2019. All cotton harvested area is forecast at 9.01 million
acres, down 22 percent from 2019.
UNITED STATES PEANUT FEDERATION ADDRESSES EU TARIFFS
On Monday, the European Union slapped new tariffs on in-shell peanuts and peanut kernels at a level of 25%. The tariffs
went into effect on Tuesday, November 10, 2020. The tariffs are authorized by the World Trade Organization. This is in retaliation
by the European Union against the U.S. over government subsidies of Boeing and Airbus. Export markets are of tremendous
importance to the U.S. Peanut Industry. Unfortunately, we continue to lose market access due to non-tariff trade barriers including
inconsistent sampling and testing methods and procedures at destination ports for aflatoxin and pesticide residues. This direct tariff
barrier is another example of the EU taking steps to limit the ability of US peanuts and agriculture to compete fairly in this key
market. While we firmly believe US peanuts can compete in open, fair, and competitive markets, this action by the EU will make US
peanuts 25% more expensive than other origins such as Argentina and Brazil. On behalf of the U.S. Peanut Industry, the United
States Peanut Federation (USPF) has been actively working on trade issues with Capitol Hill as well as key leadership at USDA and
USTR. The USPF will continue working to protect European market access for US peanuts against this latest round of tariffs.
2020 CROP UPDATE – Georgia FSIS provides the report as a service to the industry as reported by buying points. (% Oct Est)
TOTALS/date COMM. STR Loan RCT Loan Seg. 2's Seg 3's TOTAL % Oct. Est.
11/0/20/09 394,884 1,275,378 570,011 9,779 735 2,240,273 66.9%
11/08/2019 247,322 1,264,020 648,566 4,523 24,106 2,159,908 79.0%
11/09/2018 208,995 1,387,199 569,732 2,916 2,842 2,165,925 78.8%