Watermelon, peanut, and field corn are three major agricultural crops grown in the Suwannee Valley. This article describes recent trends in prices received by producers of those crops.
Watermelon
Florida watermelon production was valued at $264.3 million in 2023 and $198.3 million in 2024 (USDA-NASS). The high value of production in 2023 was partly the result of a high watermelon price during the Florida harvest season. Watermelon prices were lower in 2024 and so far in 2025.
Florida watermelon are harvested primarily during the months of April, May, and June. The Suwannee Valley harvest is mostly during late May and June. Figure 1 shows the Free-On-Board (F.O.B.) price for Florida watermelon in 2023, 2024, and 2025. In most years the price trends downward between April and June. In 2023, the price stayed high well into June. So far in 2025 the price has been tracking below 2023 and 2024 prices. The average reported price on June 13th, 2025, was $115.50 per bin. That compares to $231.00 and $171.50 per bin on June 13th in 2023 and 2024, respectively (USDA-AMS).
Peanut
The value of Florida’s peanut crop was $137.3 million in 2023 and $149.5 million in 2024. Average prices received by Florida producers for stored peanuts continue to fluctuate mostly in the $500 to $600 per ton range, as they have for the past two years (see Figure 2). The average price dipped below $500 per ton in November 2024 and January 2025. Average prices reported in February, March, and April 2025 were $566/ton, $520/ton, and $526/ton, respectively (USDA-NASS).
The USDA currently forecasts 2025 U.S. peanut acreage at 1.95 million acres and production at 7,490 million pounds (USDA-ERS). This year’s anticipated increase in peanut acres and production will likely put downward pressure on peanut prices. Any revisions to the peanut acreage estimate, when the USDA releases its acreage report on June 30th, could affect the price outlook.
Adapted from USDA Economic Research Service, Oil Crop Outlook, May 2025.
Field Corn
Most field corn is sold for grain or silage. The value of Florida corn produced for grain was $52.9 million in 2023 and $30.2 million in 2024 (USDA-NASS). The value of corn sold for silage was not reported. Corn buyers offer forward contracts, which allow producers to lock in a price prior to harvest. Most Suwannee Valley grain corn is harvested between late July and early September, and forward contracts are tied to the September futures market. This year, local buyers have been offering forward contracts ranging from $0.70 to $0.90 per bushel over the Chicago Board of Trade September futures contract price. Figure 3 shows daily local contract prices in 2023, 2024, and 2025. Local prices are estimated by weekly basis quotes from Suwannee Valley buyers and the daily closing September futures price.
Local corn prices fluctuated widely in 2023, ranging from about $5.50 to about $7.00 per bushel. In 2024, forward contract prices stayed mostly in the $5.00 to $5.50 range before falling to about $4.50 at harvest time. So far in 2025, prices have tracked a little below 2024 prices, closing at $5.09 per bushel on June 13th.
Although the old-crop corn carryout (ending stocks) estimate is tight, high planted acreage and production estimates for this year’s new crop are suppressing prices. If unfavorable weather conditions (e.g. drought) develop in the Midwest or the USDA’s June 30th acreage report shows a downward revision in corn acres, the corn price could move higher. However, so far this year mostly favorable weather conditions in the Midwest and predictions of a record crop have given the market little reason to rally.
Acknowledgments
Amanda Phillips, UF/IFAS data management analyst, contributed data on the local corn price.
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