Peanut Market Update February 2022 Week 5

We have news from Argentina that heat and drought have significantly impacted the soil in many growing regions since December. Even the moderate rains that followed have not been able to improve soil moisture. This has left farmers dependent on the expected rainfalls to achieve their goals during the growing season. 

The good news is their efforts haven't been in vain. Despite the sweltering weather during the first half of January, we have it on good authority that the 2022 crop has been growing well so far.

The hot weather has actually been good for the crop and has helped in the growth and maturity of the peanuts. Of course, this means that crops will need more water. 

Luckily, rainfall started in the second half of January. As we said, farmers are dependent on the rain, but it's going well so far, especially in the south of Cordoba and Buenos Aires provinces. Note that rain has been lesser in the center and north of the Cordoba province. 

Early indications all point to a good crop and yield. We will keep you posted as we learn more.