EFM Offers Webinars to 2020 Lineup

The Executive Farm Management Program offered two special-topics webinars to its current students and alumni in January.  Adding these evening presentations is another feature of the program’s initiative to keep its participants and affiliates up to date on  market trends so they can make informed decisions, especially at this time of the year when planting decisions must be made.

On Wednesday, January 21st, EFM Director, Blake Brown, provided a situation report for tobacco markets. His key takeaways were:

• 2019 saw the lowest level of tobacco production in the region in 100 years.
• Non-Chinese exports decreased and it is unlikely those markets will return. This is a more concerning trend than the sharp decline in tobacco exports to China during the recent ‘trade war.’
• China will mostly likely clear out US inventories from last year’s surplus before we see a large spike in contracts. Overall, the phased end of the ‘trade war’ is good news for tobacco farmers but the benefits may not really have an effect until 2021.
• Although declining sales reflects the overall market trend, tobacco is still very important for some farmers. Tobacco is a profitable commodity and will remain a key specialty crop in Eastern North Carolina and other regions in the Southeast.

On Tuesday, January 28th, EFM faculty member Nathan Smith of Clemson provided an outlook presentation on the peanut market. He gathered date to emphasize several key points.

• Domestic consumption of peanuts and peanut products is improving. Total use is up 5.5% with peanut butter snacks accounting for 3% of that increase.
• The acreage ratio of runner peanuts to Virginia peanuts is approaching 50/50 in the Southeast.
• Our biggest export partners are Mexico and Canada.
• Acreage and exports are holding steady.

These webinars fell in-between Session 1 and Session 2 of the 2020 program. Session 2 kicks off in  Raleigh on February 2nd and ends on February 8th. The program concludes in Charleston on February, 26th.