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Market Update 11/29/22

November 30, 2022

Almonds:
Similar shipping conditions to the previous couple of months prevailed in October. Crop still points to a 2.6 billion number and even though less than last year, it is a lot to ship. The strong US dollar is wreaking havoc on other world currencies, making it difficult for some to trade with the US. Buyers are patient, as in other categories, not wanting to leave money on the table. The economic insecurity in our world, along with the threat of war (among other things), seems to be wreaking havoc in a market that should be feeling the affects of inflation like the rest of the things in our world today.

NPS $1.75-$2.05
ABCs $2.25-$2.45
Cal/Carmel $1.65-$1.95

Pecans:
In-shell pecans have yet to find their homeostasis for this crop year. Georgia was early and China did not buy much, thus pushing down on the market. Mexico seems to have a larger than advertised crop with lesser quality than expected. If this is the case, the gap between halves and pieces will expand. Some shellers are pushing down on the market while others are trying to keep it propped up. Makes for an unsettling marketplace.

FJMH $4.80-$5.25
Fancy Pieces $4.75-$5.20

Walnuts:
At the price levels currently in this market, the growers are losing money. Rumors indicate older trees are being pulled out. This should help alleviate the seeming oversupply situation.
Or is it possible that low prices are due to global economic insecurity (strength of the dollar vs. other currencies)?
Or is It is possible that the low prices are actually due more to economic insecurity on a global scale and the manipulation of the major markets (strength of the dollar vs. all other currencies)?

LHP 20 $1.40-$1.60
CHP 20 $1.25-$1.35

Cashews:
Sales are down similar to most other nuts. Buyers are afraid of more downside. Pricing is attractive compared to 12 months ago. Prices look to stay steady for the foreseeable future. Flowering of new crop has begun in Ivory Coast and Cambodia. First Flush should begin Jan/Feb. Crop size looks to be about the same as last year.

WW 240 $3.10
WW 320 $2.80
LP $2.15

Pistachios:
Most major processors are reportedly in a comfortable sold position. Price is holding fairly firm at current levels. A blessing, given where most other nuts find themselves today. With a crop size of about 865 million lbs. (smaller than last year&rsquo;s 1.16B), it makes sense that the market is holding the price given the lackluster shipping last month.

18-22 X number 1 $3.80
21-27 X number 1 $3.55
80 percent whole $7.80



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