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Market Update 6/29/21

June 29, 2021


The dry conditions persist into the summer. We have another potential crop of over 3 billion pounds for this season. Pricing is still very low for almonds. It is also low compared to other nuts used for similar applications. California is doing an excellent job of selling the bumper crop. Pricing is stable/firm, especially for certain sizes. Different from previous years, there is a premium for new crop. The water situation is desperate and temperatures are in the triple digits. Pray for rain.

NPS $1.90-$2.60
ABCs $2.40-$2.70
Cal/Carmel $1.95-$2.25


The market has been fairly still, however it has picked up a little in the last couple of weeks. Contract shipments are strong.
Pecans in cold storage seem to have dwindled quickly. Pricing on Halves seems to be firming. Labor shortages keep most handlers from running more than one shift, so shipments are delayed. Some are saying that is the reason for the uptick in pricing. Those same folks say there is a lot of in-shell still left in cold storage both sides of the border.
Crop size is too early to tell - we are watching with anticipation. Water continues to be an issue for Mexico, as they seem to be planting more than they can support.

Nut set is good both north and south, but will need adequate water to see them fill out.

FJMH $4.85-$5.15
Fancy Pieces $2.85-$3.35


Shipments have been good and supply is basically gone. Prices have been stable as the market is quiet and the industry has seen excellent shipments again last month - 762 thousand tons. This totals to over 90% of US supply shipped.
Chandlers remain tight at $2.85.
Objective estimate will likely be a turning point for new crop sales. The dry situation in California has many worried.

LHP $2.30-$2.40
CHP $2.10-$2.20


Pricing is increasing with unsure demand. Vietnamese WW 180-240 are becoming a little short and prices have increased about a dime as a result. India/Africa reports similar - bullish pricing. Buyers seem hesitant to cover.

WW $2.40- $3.90
WW $3.20- $3.50


Drought conditions are plaguing California, however shipments remain good and pricing is slightly bullish. Iran has shipped the majority of their crop due to lower prices. California packers are well committed and quite bullish. Buyers that are needing product are having to pay higher prices. The high end of speculation for this year&rsquo;s crop is 1 billion pounds - strong for an off crop year.

18-20 X number 1 $4.00
21-25 X number 1 $3.90
Kernels 80 percent whole $8.40

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