Peanuts were planted from Mid March to June this year. The market was terribly uncertain at planting but other markets were as bad or worse. Some farmers had 20/20 hindsight and planted without a contract. In Georgia and the Southeast there are a lot of peanuts planted. Stands range from bad to excellent. Today we are feeling a tropical rain in June which will be especially beneficial to those March planted peanuts. The peanut industry seems to have varying opinions as to what happens with a large crop and frankly it is a long way from being done. A large crop and low prices at harvest will take care of itself with lower plantings in 2013. It is the roller coaster of the free market.
Couple all this with the uncertainty of a farm bill which is still largely unknown and hopefully will end up with a safety net for southern farmers which is non-existent in the Senate version of the bill which passed last week...the ride will get to be interesting.
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