NEWS
Farm Service Agency
Public Affairs Staff
1400 Independence Ave SW
Stop 0506, Room 3624-South
Washington, D.C. 20250-0506
                                Release No.1638.04 
                                                
                        Latawnya Dia (202) 720-7962
                      latawnya_dia@wdc.fsa.usda.gov

    WEEKLY NATIONAL MARKET PRICE FOR PEANUTS

WASHINGTON, July 27, 2004   The USDA's Commodity 
Credit Corporation (CCC) today announced the national 
posted prices for the four types of peanuts.  These 
prices are used to determine the alternative loan 
repayment rates for marketing assistance loans and to 
determine loan deficiency payments.  This week's report 
also implements 2004 crop loan differences in the 
announced posted prices for the 2004 season, which begins 
August 1.
  
Prices in effect from 12:01 a.m. Eastern Time (ET) on 
Wednesday, July 28, 2004, through midnight July 31, 2004, 
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

Prices in effect from 12:01 a.m. ET on Sunday, Aug. 1, 2004, 
are as follows:

	- $407.06 per ton for Runner peanuts
	- $390.23 per ton for Spanish peanuts  
	- $404.15 per ton for Valencia peanuts
	- $404.15 per ton for Virginia peanuts

The national posted prices are determined taking into account 
CCC's responsibility 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 prices represent the final week of a 
transition period from 2003 crop prices to 2004 crop prices marked 
by implementation of 2004 crop loan rates on Aug. 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.     

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