PEANUT MARKETING NEWS – June 3, 2021 – Tyron Spearman, Editor (64)

USA PEANUT CONGRESS - The USA Peanut Congress will take place at the historic Roosevelt Hotel in New Orleans, Louisiana
June 28-July 1, 2021. A block of rooms is being held for the event and we encourage guests to make reservations now - rooms are
still available but going quickly. Room Block Deadline for Reservations is June 4, 2021. A tentative schedule of events is
available with sponsorships available. For more information, www.peanut-shellers.org or www.usapeanuts.com. Registration
for in-person or remote is available. Registration is now more than 225 people.

JAPANESE TRADE AGREEMENT - The U.S.-JAPAN Trade Agreement (USJTA) has been in effect for 16 months, however
the timing of Japan's fiscal year meant that the agreement entered "Year 3" of implementation on April 1, 2021.
The 10% duty on raw peanut kernels was eliminated immediately when the agreement went into effect. Processed peanuts
and peanut butter tariffs will be eliminated in a phase out, with all tariffs at zero by 2023.
In 2020, the United States exported $411 million of nuts to Japan, making Japan the #7 oversea’s market for U.S. nuts.
Japan relies on imports for most of its nut consumption. Salted mixed nuts remain a popular snack item in the retail sector while
unsalted nuts are gaining in popularity due to perceived health benefits. The United States is the second largest supplier of PEANUTS
to Japan, after China. Under this agreement, U.S PEANUTS gained an immediate tariff advantage over Chinese peanuts.
UPDATE ON ANTITRUST LITIGATION SETTLEMENT - FROM SETTLEMENT STRUCTURE: This settlement resolves a
portion of a combined antitrust litigation alleging that peanut shellers conspired to pay peanut farmers depressed prices for their raw
runner peanuts in order to keep prices low. Shellers buy from farmers, then process the peanuts and sell them onward to makers of
products like candy and peanut butter. Previously, defendants Olam Peanut Shelling Company, Inc. and Birdsong Corporation reached
settlements with the plaintiffs; now defendant Golden Peanut Company, LLC has also agreed to settle. The complaints alleged that the
companies had violated the Sherman Act.
Farmers are receiving a form from the Angeion Group. If you accept the sales amounts set forth in the Claim Form mailed
to you, you do not need proof in order to submit the Claim Form. If you wish to dispute the amount, you must complete a Sales Audit
Form and provide supporting documentation.
You may be eligible if you are a person or entity in the US who sold raw, harvested runner peanuts to any of the defendants
in this case (Olam, Birdsong, or Golden Peanut) or their subsidiaries or joint ventures, between January 1, 2014 and December 31,
2019. The net settlement fund will be distributed according to a plan of allocation, depending on the figures on peanuts sold by each
class member. Total Settlement Amount: $102,750,000 from all defendants. The filing deadline is JULY 13, 2021. Please consult
the case website, www.PeanutFarmersAntitrustLitigation.com, regularly for updates on the case.
NATIONAL POSTED PRICE SHELLED MKT PRICE MARKET LOAN WEEKLY PRICES
from USDA each Tuesday at 3 PM, USDA - 9 - Mo. loan Average prices
Good til Next day at 12:01 am EST. insp. = Inspected Marketing by type
Week- June 1, 2021 Date – 6-1, 2021 Farmer stock tons Date – 05-28-2021
$424.55 per ton/Runners Shelled Runners 2019-20 Crop 2020-21 Crop Runners - $.208- $416t
$415.57 per ton/Spanish 2020 Crop - $.53- $.55 lb. Date 6-3-2020 6-1-2021 Spanish – None
$428.74 per ton/Valencia 6-2-20 Jum$.80- $.85 lb Loans 2,341,062 2,435,355 Virginias - None
$428.74 per ton/Virginia Blanched Whole - $.85 to $.90 Redeemed 1,395,089 1,489,355 Average - $.208 -$416 t
Same as last week 6-5-19 Jum $.46 Med, $.45 In Loan 945,973 946,000 Runners –70,209,000#
Splits $.44 Estimate 2,748,043 t 3,067,168 t Virginia –None
4-23-2021 (2020 crop) Inspected 2,752,280 t 3,107,188 t Spanish - None
2020 Crop USDA Estimate (Final)- 1,616,000 acres harvested X 3,796 lbs. ac = 3,067,168 tons TOTAL –70,209,000#
2021 Peanut Acreage Estimate – 1,626,000 acres planted, 1,560,000 ac. harvested DOWN $0.7 ct/lb
Average estimated yield – 4,050 lbs. ac. Production estimate 3,160,000 tons, up 3%
2021 Farmer Stock Contracts – $500 per ton /$475 per ton, plus $25 per ton premium on seed and/or High Oleic(HO)
VC – Virginias – Some $500/$520 per ton, + $25 per ton for irrigated, Runners -$475 per ton + $25 for HO or irrigation.
Prices Received by Sep 2020 Oct 2020 Nov 2020 Dec 2020 Jan.2021 Feb.2021 Mar. 2021 Apr. 2021 Projected PLC
Farmers (PLC $.205 $.209 $.212 $.204 $.205 $.205 $.212 $.214 $535-$415
2019 Program) $410 ton $418 ton $424 ton $408 ton $410 ton $410 ton $424 ton $428 ton $120 / 85% Base