Peanut Butter

Looks like the rise in food prices are already taking off.  I mentioned it this morning.

It's already here and it will get worse.

Failing Peanut Harvest

The price this year for a ton of Runner peanuts, which are used to make peanut butter, is about $1,150, according to the Department of Agriculture.

This time last year a ton cost just $450.

The price rises are said to be down to hot weather decimating this year's crop of peanuts.

In total, just 38 per cent of the peanut crop was rated good or excellent last month - down 60 per cent on last year

The price of peanut butter is set to soar after scorching weather ruined this year's crop of peanuts.

All the industry's leading brands will reportedly be upping prices by next month - with some jars going up by more than a third.

Projected cost increases.

Jif - 30 per cent
Peter Pan - 24 per cent
Skippy - Up to 35 per cent
Planters - 40 per cent

Here is a link with mucho data on current harvest rates for corn, soybeans and other crops that are interactive

AgWeb harvest Data & Maps

News related to the rising cost of corn & beans as the market anticipated the USDA report due out tomorrow.

Corn for December delivery climbed 40 cents, or 6.6%, to $6.45 a bushel on the Chicago Board of Trade, the largest allowed one-day gain under exchange rules. The limit will temporarily expand Wednesday, meaning prices could swing 60 cents in either direction.

Soybeans for November delivery climbed 58 cents, or 4.9%, to $12.35 1/2 a bushel. Soft red winter wheat for December delivery jumped 49 1/4 cents, or 8.1%, to $6.60 3/4 a bushel.