NEWS
Farm Service Agency
Public Affairs Staff
1400 Independence Ave SW
Stop 0506, Room 3624-South
Washington, D.C. 20250-0506

                                           Release No. 1629.04 
                                                
                                   Latawnya Dia (202) 720-7962
                                 latawnya_dia@wdc.fsa.usda.gov

             WEEKLY NATIONAL MARKET PRICE FOR PEANUTS

WASHINGTON, July 20, 2004 -- The USDA's Commodity Credit
Corporation (CCC) today announced the national posted prices 
for the four types of peanuts.  Prices are as follows:

	$406.98 per ton for Runner peanuts
	$389.67 per ton for Spanish peanuts  
	$404.27 per ton for Valencia peanuts
	$404.27 per ton for Virginia peanuts

These prices become effective at 12:01 a.m. Eastern Time (ET) 
on Wednesday, July 21, 2004, and are used to determine the 
alternative loan repayment rates for marketing assistance loans 
and to determine loan deficiency payments.  

The national posted prices are determined taking into account 
CCC'sresponsibility to minimize potential loan forfeitures and 
the accumulation of stocks of peanuts by CCC.  These prices also 
allow peanuts produced in the United States to be marketed freely 
and competitively, both domestically and internationally.  In 
establishing the national posted prices, CCC utilizes a variety of 
sources reporting peanut sales for various uses in various 
locations.  USDA is committed to ensuring that the rate established 
is an accurate representation of the market price.

This week�s posted price represents the third week of a transition 
period from 2003 crop prices to 2004 crop prices that will culminate 
with implementation of 2004 crop loan rates on August 1, 2004.  This 
transition period is intended to mitigate the potential for sharp 
swings in repayment rates due to price differences (higher or lower) 
between old and new crop peanuts. 

This announcement will continue to be made each Tuesday, at 3:00
p.m., ET, until further notice.  Additional program information is 
available from Daniel Stevens at (202) 720-5291 or by e-mail at
daniel_stevens@wdc.fsa.usda.gov.     

Note:  The Farm Service Agency's news releases and media
advisories are available at http://www.fsa.usda.gov.

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