Even though we have had some showers scattered around lately, the weatherman said today we are likely going to see our drought classification move to exceptional. This is the worst classification for drought..."it just don't get no worse."
For peanuts the last time a drought caused a real price spike of significance was in 1990. That year it happened late season and hurt yields. This year the impact has been early to already reduced planting intentions. Now farmers are concerned about making enough cotton to cover their contracts so many acres which might have still seen peanuts are being diverted to further cotton acres.
I think we are in a critical situation and not sure but if things don't change we might need life support.
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