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Market Update 021020

February 10, 2020

ALMONDS:

Weather in California is almost perfect and as a result bloom looks wonderful as we look ahead to the 2020 Crop.

Most feel that this year&rsquo;s crop will land closer to the Subjective Estimate of 2.5 billion and not the Objective Estimate of 2.2 billion pounds as crop receipts are showing.

These two factors have caused pricing to weaken a bit:

Bl Manufactured $3.55-65
Nat Manufactured $3.45-55
NP 27/30 Pasteurized $2.90
Cal/Car 27/30 ssr $2.80
Blanched Meal $3.00-15

PECANS:

It seems that there is still a good amount of contracting out there to be done. However, with the sudden jump in the market buyers seem hesitant.

Almost all shellers have pulled off of the inshell buying market saying &ldquo;they are not going to chase this up any further&rdquo;. One source says that there are likely 80-100 million pounds left in Old Mexico but in strong hands and being put in the freezer as we speak.

China is inactive due to the Coronavirus and most there are staying home and not venturing out.

$3.50-60 is current inshell market asking price.

There are still quite a few old crop pieces being sold today, if it's too good to be true......

Fancy Halves $5.15-5.40
Fancy Pieces $3.75-4.??

WALNUTS:

Processors are looking for a second round of buying to come around soon. Market has been very very stable since it settled in at the below pricing. Maybe a slight dip would stimulate such a scenario?

LMP $3.50
LHP $3.40
Combo is short.
Light amber is available if it is available.



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