The almond market is moving slowly. As reported earlier, shipment figures are disappointing and purchases are done hand to mouth. Contradictory information between sellers and buyers creates uncertainty and buyers prefer to cover only nearby. Growers/processors are indicating a smaller crop while buyers are becoming more and more convinced that it is not as bad as growers/processors wants them to believe. Record crop of pistachio’s and walnuts, increasing acreage should be indicators on this. We recommend to continue to buy hand to mouth and not cover long positions.
