My peach tree is weeping some kind of crystallized "stuff" at the bottom of the tree trunk. I had left the original piece of protective paper that comes with the tree when bought about 3-4 years ago on the tree to prevent my two dogs urinating on the tree trunk. I cut the paper off because I could see the trunk was getting larger and the paper was getting tight. The tree trunk seemed to be very wet (soggy) and I saw a bug dash out when I cut the paper off. I couldn't see what kind of bug it was. The tree trunk has been exposed now for almost a week and has not turned the regular color of a trunk (brown). It is now excreting or weeping what looks like to be crystallized sap at the bottom of the tree trunk. However, the leaves are beautiful. So...what did I do to my peach tree??
Peach Tree Weeping
Certified GKH Gardening Expert
Peach Trees do suffer from a few diseases and pest issues.
This appears to be a Canker on your tree trunk. It may have started from an injury to the tree.
Treatment is simply making sure the tree is a healthy as possible.
Here are some links that have more information.