Bumper peanut crop dampens markets

An anticipated bumper crop will keep the peanut market quiet during the growing season and could put a damper on farmer contracts this fall, says a peanut industry expert.

Tyron Spearman, editor of the Peanut Farm Market News—an industry online newsletter—and executive director of the Peanut Buying Points Association, says the USDA crop estimate of 2.5 million tons “could go higher with a couple more rains. We have a bigger crop than usual.”

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