Peanut farmers are busy bringing in the crop. About 50 percent complete in the tristate area. We are showing now for Stocks and Processing, issued
by USDA for the month of August, peanut stocks in commercial storage is now at 2.31 billion pounds. That is up 120 percent from last year. That is what has quieted the market.
In August Sheller’s billed about 334 million pounds. That is down 3.7 percent. Overall by category they are showing peanut candy, peanut usage in August down 10 percent. Peanut snacks up 18 percent. Peanut butter down 12.5. Overall on edibles, minus 2.67. Almost a 3 percent drop from last year on the consumption of peanuts and peanut products.
In the meantime, farmers will receive a Price Loss Coverage (PLC) payment on last year’s crop. It is coming in in October. It is $77 dollars per ton. That will be on 85 percent of the farm base.
I’m Tyron Spearman…