Initial Projected 2008 Peanut Crop Planting

Good Monday morning,

The USDA issued the Prospective Plantings Report this morning.
Peanut acres are estimated to increase 16% over 2007 crop to 1,430,000 acres.
This would yield a little more than 2,100,000 tons, with an average yield.

This is certainly not too many peanuts when you consider a demand of 1,950,000 tons and the short carry-in to the 2008 crop.

I will give a more detailed report, later.

Have a Great week. Richard



Peanuts: Area Planted by State
and United States, 2006-2008
--------------------------------------------------------------------------------
: Area Planted
State :---------------------------------------------------------------------
: 2006 : 2007 : 2008 1/ : 2008/2007
--------------------------------------------------------------------------------
: --------------- 1,000 Acres --------------- Percent
:
AL : 165.0 160.0 180.0 113
FL : 130.0 130.0 120.0 92
GA : 580.0 530.0 650.0 123
MS : 17.0 19.0 28.0 147
NM : 12.0 10.0 9.0 90
NC : 85.0 92.0 86.0 93
OK : 23.0 18.0 20.0 111
SC : 59.0 59.0 65.0 110
TX : 155.0 190.0 250.0 132
VA : 17.0 22.0 22.0 100
:
US : 1,243.0 1,230.0 1,430.0 116
--------------------------------------------------------------------------------
1/ Intended plantings in 2008 as indicated by reports from farmers.
2008 PEANUT CROP ACREAGE ESTIMATE 3/31/2008

ACRES YIELD PRODUCTION
2006 1,210,000 2,863 1,732 ,125
2007 1,195,000 3,130 1,870 ,325
2008 1,430,000 2,800 2,002 ,000
1,430,000 3,200 2,288 ,000


Over the last five crop years U.S. yield hasn't been
lower than 2,863 pounds per acre and hasn't been
higher than 3,159 pounds per acre. Speculation on
the possible low and high production for 2008 crop.
Stewart