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September Almond Report

Fri Sep 22, 2017 @ 11:09 AM

August Almond Report 8.25.17

Fri Aug 25, 2017 @ 10:09 AM

August Almond Report 8.11.2017

Fri Aug 11, 2017 @ 10:09 AM

Wed Nov 30, -0001 @ 12:00 AM

July Almond Report

Wed Jul 12, 2017 @ 10:07 AM

June Almond Report

Mon Jun 12, 2017 @ 10:06 AM

Monte Vista Farming and Growers Take Japan

Wed May 17, 2017 @ 9:05 AM

April Almond Report 4/26/17

Fri Apr 28, 2017 @ 11:05 AM

April Almond Report

Tue Apr 11, 2017 @ 5:04 AM

Brendan O'Donnell Takes Dubai

Mon Mar 20, 2017 @ 4:03 AM

March Almond Report

Mon Mar 13, 2017 @ 11:03 AM

February Almond Report

Fri Feb 10, 2017 @ 10:02 AM

CEO Jonathan Hoff Goes Back To School!

Tue Jan 31, 2017 @ 8:01 AM

January Almond Report

Thu Jan 12, 2017 @ 10:01 AM

CEO Recap: A Review of 2016 and Projections for...

Fri Dec 30, 2016 @ 10:01 AM

MEET FARM TO KIDS!

Fri Dec 23, 2016 @ 10:12 AM

The Land iQ Acreage Tool and New Position Report...

Tue Dec 13, 2016 @ 11:12 AM

Happy Thanksgiving!

Fri Nov 18, 2016 @ 3:12 AM

Almond Report

Thu Nov 10, 2016 @ 2:12 AM

Sometimes I’m not sure if we’re selling...

Tue Oct 11, 2016 @ 2:12 AM

Bill and Hillary Just Saw Our Average...

Sat Sep 24, 2016 @ 2:12 AM

First Position Report of 2016

Fri Sep 09, 2016 @ 2:12 AM

Almond Report

Fri Sep 02, 2016 @ 2:12 AM

It’s time for positive thinking!

Thu Aug 11, 2016 @ 1:12 AM

It's Harvest Time!

Thu Aug 04, 2016 @ 1:12 AM

Almond Report

Thu Jul 07, 2016 @ 1:12 AM

It's Time...Another Marketing Year in the Almond...

Fri Jun 17, 2016 @ 1:12 AM

Almond Report

Fri May 27, 2016 @ 1:12 AM

What Is Happening in the Almond Industry? A Recap...

Thu May 19, 2016 @ 1:12 AM

Push! Push! Get those prices up!! We’re nearly...

Thu May 12, 2016 @ 12:12 PM

What Time Is It?

Thu May 05, 2016 @ 12:12 PM

Almond Report

Fri Apr 22, 2016 @ 12:12 PM

Almond Report

Fri Apr 08, 2016 @ 12:12 PM

Almond Report

Mon Mar 14, 2016 @ 12:12 PM

Almond Report

Wed Feb 24, 2016 @ 11:12 AM

Market Timing - The Dangers of Getting Caught...

Thu Jan 28, 2016 @ 11:12 AM

Almond Report

Fri Jan 15, 2016 @ 11:12 AM

Almond Report

Tue Jan 12, 2016 @ 11:12 AM

Almond Report

Mon Jan 11, 2016 @ 11:12 AM

Almond Board of California Crop Projected...

Wed Jul 01, 2015 @ 12:01 PM

Pallet Tracking Ensures Safe and Timely Delivery

Mon Jun 29, 2015 @ 10:57 AM

Sep
22

September Almond Report

Well, things have certainly changed since my last report where I was wondering where the buyers went. The position report released last month showed a few interesting things, but one stood out more than any other. Shipments were close to that of last year, which was interesting since it had to come mostly from the 2016 crop. Receipts were well below last year due to the delayed crop - which everyone expected - but what really stood out and surprised people were the committed sales.

Here’s why it’s relevant:

  • Total of 677M lbs. committed as of the end of August

  • An increase of +168M lbs. shipped in August

  • TOTAL SALES = 845M lbs.

  • Total Supply = 2.25B lbs., less than 2% loss and exempt = 2.205B lbs. (2% might not be enough this year)

  • Add the 400M lbs of carry-in to give us a total supply of 2.60B lbs.

  • We have sold 845M lbs. of total supply of 2.60B lbs, which is 32.5% sold. Leaving us with basically the entire year to sell the 2/3 of the remaining crop.

As a buyer, I would be slightly alarmed by these numbers if I was not well covered. Many have entered the market at the same time as demand coming from every market segment. India, China, Mid-East, Domestic and Europe are all buying, however, I believe the United States and European Union - our largest and most stable markets - to be the most covered and the reason we are as far sold as we are.

As far as the crop is concerned, we continue to hear about higher than normal levels of serious damage. Many of the hardest hit growers tell me it was impossible to winter shake and destroy mummies due to the non-stop rainfall we received this year. Aside from the serious damage, we're seeing beautiful crops with nice color, and very low chip and scratch. Sizing on Nonpareil is approximately one size smaller than last year with fewer 20/22 and 22/24 and more 27/30 and 30/32. This is good news for our friends in Japan. With the increased in serious damage this year, we may see a higher than normal premium for high quality product such as J-spec due to the lack of availability.

We are selling into this rising market, limited somewhat by the speed of harvest, hulling and sizing. Recent Nonpareil sales to Japan and other high end markets are returning $3.00 to the grower. Inshell is even higher, between $3.05 - $3.10 back to the ranch.