Could good peanut prices and better corn yields add up to a big increase in Arkansas peanut plantings?
Industry officials think so, even though it is still too wet and too early in the season for planting peanuts.
Part of the reason is economic.
When cotton prices fell in 2011, many Arkansas farmers shifted to peanuts due to the higher prices for the nut crop. Even though peanut prices have dropped, yields are good enough to make Arkansas a major peanut producer.
“For that, we needed to produce 10,000 tons for three-year period. We did that and have continued to reach that mark and exceed that mark. Production is here to stay. I don’t think this is flash-in-the-pan type of thing,” according to University of Arkansas Plant Pathologist Travis Faske, speaking on AgDay.
Last year, the state’s farmers harvested roughly 17,000 acres.
“It’s a good rotation crop. A lot of our growers are seeing 10-bushel to 25-bushel increases in corn following peanuts,” said Jeremy Baltz, co-owner of Ag Headquarters Buying Point, in Pocahontas, Ark.
For smaller growers growing from several hundred to a few thousand acres, it’s a way for them to extract more revenue and more profit, according to Baltz.
Watch the AgDay segment here: