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Market update 01/28/21

January 28, 2021

Almonds:
Shipments for this crop year have been excellent. Over 100 inches of snow pack is expected in the valley next week, so things are looking up. Bloom is in 10 days and that will be an excellent indicator of next year’s crop size. Pricing firmed over the last two shipping reports, but with this new weather forecast, there are willing sellers out there. Slight market weakness. Bids make business.

NPS 27/30 $2.08
California/Carmel $1.95-$2.10
Manufactured $2.60+


Pecans:
China is currently not buying much. Mexico is reporting lower quality and reduced tonnage than initial reports. One report shows Mexico at 360,000 pounds of in-shell and U.S. at about 300 million, along with a 181,000# carry over from last year. Consumption last year was 536,000 pounds, so we are in an oversupply situation. Prices look stable to weak.

FJMH $4.80-$5.00
Fancy Pieces $2.85-$3.05
Western/Eastern Schley $2.60-$.80 per point
Mexican inshell $2.80 per point

Walnuts:
Shipments last month were 87,000 tons - a new record. Exports are up 31% and Domestic is flat.
Crop receipts are at 765,000 tons.
Pricing has been fairly stable despite higher shipments than previous years (world supply/demand). Similar to the almond market, increased shipments would generally lead to a bullish/strong price and yet it is staying relatively stable/low.

LHP $2.20
CHP $1.90-$2.00
Jumbo Chandler $1.00-$1.05

Cashews:
No recent negative news here. Prices are stable/lower. Consumption is reduced as a result of Covid. Containers are in a shortage due to Covid vaccine shipments. Indian demand has been low. More bear than bull.

W240: US $3.35/lb
W320: US $2.90/lb
W450: US $2.50/lb
DW: US $2.10/lb
LP: US $1.10/lb
SP: US $0.60/lb

Pistachios:
New record of shipments last month of 92 million pounds. Exports up, Domestic up. YTD shipments up. There are sellers out there and buyers are looking. Prices are fairly stable, however.

18-20 raw: $3.90
Shelled: $7.50
H and P: $6.65



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