Nuts update... nuts update...nuts update... Peanut price hopes pinned on US

摘要

Hopes are rising that the US will come up with a far better peanut crop later this year after the most recent planting survey raised the estimate of area for harvest from 16% to 19% over last year's at some 1.46m acres. A weak dollar, high prices and strong overseas demand with relatively little competition in the market from other suppliers are all seen as good incentives for US shippers to maximise trade. An indication of the tightness of old crop supplies was a recently reported quote for Jumbo runners at the equivalent of $1,800/tonne to European ports. However, already anticipating some loosening in supply, new crop indications have been reported about $200/tonne cheaper.