The peanut market is about as stirred up as a large jar of mixed nuts. Nationally, Congress is wavering on passing the Farm Bill. Trump continues to talk of unfair trade agreements and farmers are expecting retaliatory tariffs on farm products. Planting season was first facing a drought. Then, it rained for three consecutive weeks delaying the planting of about 25 percent of the crop until after the crop insurance deadline.Other market factors include that most farmers decided against signing the $400 to $450 per-ton contracts. Lots of peanuts have been planted with only the loan of $355 per ton as price protection. The price of cotton has made a run to more than 90 centsper pound, which was inviting to many producers and offered a rotation option. In Argentina, farmers were plagued with the worst drought in 50 years and then at harvest came 20 days of rain and fog further damaging the crop and opening the door for U.S.sales to the European Union.
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