LEADING MARKETING INDICATORS (As of January 5, 2026)

2025 Est. Peanut Acreage (+8%)                        1,901,000 acres

2025 Est. Peanut Production (3,890 #/ac)   3,735,050 tons

2025 Inspections(Jan 5, 2026)                            3,517,681 tons

2025 Peanuts placed in loan(1-5-2026)              2,364,295 tons

2024 Market Loan 2024-2025                            2,439,059 tons

2024- In Loan (1-05-2026))                        2,277 tons

2024 -25 Domestic Usage (12 Mo.)          UP 1%

2024-25 Exports (Aug-May) (10 Mo)              DOWN – 18%

Posted Price (9-14-25) Runners -$424.68 ton, Spanish - $414.56 ton. Valencia and Virginias - $435.00                

WORLD PEANUT SITUATION

            CHINA NEW 2025 PEANUT AREA INCREASED BY 12%,  PEANUT PRODUCTION IS PROJECTED TO REACH around 19 million MT, UP from 16.5 million MT in 2024.  HIGH DOMESTIC PRODUCTION and WEAK CONSUMPTION GROWTH CONTINUE TO RESTRICT PEANUT IMPORTS in CHINA.

            IN INDIA, data released by the Gujarat government shows that ACREAGE HAS INCREASED by 30-35%, Indicating 2025 STRONG CROP POTENTIAL GUJARAT is projected to achieve a RECORD-HIGH OF 66 LAKH TONNE OF GROUNDNUT THIS YEAR, UP 26% from last year

GUJARAT is painting a FAIRLY ROSY PICTURE in terms of YIELDS

            IN U.S., PLANTED AREA is estimated at 1.95 million acres, UP 8 PERCENT FROM LAST YEAR.  PRODUCTION is forecast at 7.40 billion pounds, UP 15 PERCENT FROM 2024

            IN ARGENTINA, THE FINAL STOCK of the 2024/25 peanut crop INCREASES CONSIDERABLY by 50% to 1.45 Million M.T., compared to the FINAL STOCK of the 2023/24 peanut crop of 0.97

Million M.T., which generates QUALITY CONCERNS, THE OVER SUPPLY TURNED INTO OVER STOCKS....

            THE OVER SUPPLY ESTIMATE MIGHT CONTINUE AT A HIGH FOR THE FOLLOWING SEASON 2026/2027, DUE TO HIGH ENDING STOCKS IN ALL THE ORIGINS.

TRADE TALK ABOUT THE U.S.

            THE AREA HARVESTED is estimated at 1,901.0 thousand acres, UP 9 PERCENT FROM LAST YEAR and PRODUCTION is forecasted at 7.470.100 thousand pounds (3,735,000 farmers stock short tons or

3,388,380 metric tons), UP 15 PERCENT FROM 2024 TONNAGE WAS AT 3.52 farmers stock short tons as at

            According to U.S. SOURCES, this crop will be between 3.5 million to 3.6 million fsst probably closer to the 3.5 million fsst. There will be more peanuts coming in, but not 200,000 fsst more.

            U.S. sources said THIS CROP IS ONE OF THE LARGEST PEANUT CROPS WE’VE EVER SEEN

IN THE U.S., the 2024/2025 PEANUT CARRYOVER is believed to be closer to 950,000 to 975,000 fsst, compared with USDA’s data at 782,000 fsst

            IN THE U.S., the 2025/2026 PEANUT CARRYOVER is projected to be in the 1.245 AT MINIMUM, but PROBABLY MUCH HIGHER.

TALK ABOUT U.S. PEANUTS

            Sources say that the 2025/2026 PEANUT CARRYOVER could reach a record of 1.5 million fsst or more, DEPENDING ON

DEMAND. WHAT COULD BE DIFFICULT TO MANAGE IS THE QUALITY OFTHE CARRYOVER.

            LATE SEASON DROUGHT HAS DEFINITELY IMPACTED QUALITY OF THE SOUTHEAST CROP which IS LOWER THAN THE PAST 5 YEARS

            The JLA FAILURE RATE for the SOUTHEAST stands at just above 10%.  U.S. sources believe THEY WILL END UP WITH A FAILURE RATE of between 12 to 15%.

            U.S. sources believe this will be a MANAGEABLE CROP.

THERE WILL BE MORE FAILURES, MORE REMILL and LOWER EDIBLE YIELDS.

ARGENTINA

            The Secretariat of Agriculture, Livestock and Fisheries, SAGyP, reported that THE PEANUT PLANTED AREA is maintained at 450,000 hectares; a reduction of 15.1% compared to the 2024/25 season, with 530,000 hectares.

            Sources from the peanut sector reported an estimated planted area of around

420,000 hectares. WITH AVERAGE YIELDS, ARGENTINA APPEARS TO BE HEADING TOWARDS A NORMAL YEAR IN TERMS OF VOLUME.

            Another source reports THE PEANUT PLANTING AREA for the 2025/26 season IN ARGENTINA, would be around 430,000 hectares, considering the plantings of shellers, in all their forms, and the plantings of independent producers.

             According to GEORGALOS PEANUT WORLD “GPW”, in the 2024/25 season

around 535,000 HAS have been planted, and with an estimated YIELD of 3.7 MT./Ha., THE

TOTAL PRODUCTION VOLUME would be between 1,980 and 2,000 MILLION METRIC TONS OF IN-SHELL PEANUTS.

            GOOD PLANT EMERGENCE AND GOOD MOISTURE RESERVES.

In the important area located to the South-Southeast-Southwest and surrounding areas of the center of the Argentine peanut region, A SIGNIFICANT PART OF THE PEANUT PLANTED AREA DURING 2025/26 WAS ALREADY SUFFERING FROM DROUGHT.

            Everyone is closely watching THE WEATHER PATTERNS, WHICH WILL BE CRUCIAL IN DETERMINING THE FINAL POTENTIAL OF THE CULTIVAR.

BRAZIL

            The key variables for 2025/26 are HOW MUCH QUALITY PEANUT WILL BE AVAILABLE, HOW EXPORT DEMAND BEHAVES, and HOW QUICKLY THE DOMESTIC MARKET ADJUSTS TO A SMALLER CROP.  BRAZILIAN CROP PLANTING IS COMPLETED. CURRENT ESTIMATIONS for AREA DECREASE averaging 30/35.

            Other sources said that the PEANUT PLANTING AREA decrease is of 25%, and no more than 30 % decrease in area. OVERALL, CROP DEVELOPMENT ACROSS THE AREA IS PROGRESSING WELL WITH NO WEATHER DELAYS YET.