Cue collective sighs from the peanut gallery, if you see what I’m saying.
Moving forward, a new report from Georgia Public Broadcasting drops the nutcracker on Georgia’s iconic crop. (Ok, I’ll stop now.)
On a serious note, the report shows that spiking prices may well lead to soy beans making inroads on Georgia’s agricultural power house. Peanuts have long been at the top of the proverbial food chain, particularly in Southwest gnat-ridden terrain, and backed by cotton and corn.
But, as this report notes, the soy-ridden Midwest has experienced a heavy drought this year, leading to a cost hike for the product while China continues its march towards a soy monopoly. A ‘soypoly,’ if you will.
As such, the speculation is that Georgia farmers may Carpe Diem on more appealing soy prices, leading to an increased amount of soy harvesting in Georgia.