Market Update – November 12, 2020

Bill Morecraft
Senior Vice President

The October ABC Position Report was released earlier today. October 2020 crop receipts were 758 million lbs, bringing YTD receipts to 1.810 billion lbs. The 2020 crop remains on pace to reach 3 billion lbs. The large crop is placing early pressure on the California almond supply chain, taxing huller shellers, stockpile storage, and bin availability.

In a recurring theme, shipments were expected to be very strong and did not disappoint. The 309 million lbs is the largest California almond shipment month in history, exceeding last October by nearly 17%. YTD shipments are 25% ahead of prior year, up by 154 million lbs in the first three months. Counting last July, the industry is on a record string of shipments for four consecutive months…[Read More]

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