It’s been a while since we sent our last market update and lots has happened since. Despite the record high cashew prices, (brazils and pecans aren’t cheap either,) we’ve seen a very busy holiday season so far. So let’s try to stick to the point very shortly and get back to work as soon as we can. ?

Cashews:

The cashew market has kept us all on edge over the past few months. Finally, we’re starting to see this market slipping off that high cliff! Forward business has been the slower side over the past week with many buyers speculating and waiting for the market to take another dip. Time will tell if they are right or wrong. I do believe that we have a big chance of some additional softening, however we do need to keep in mind that A) The Tet holidays are coming up. Keep in mind that most shippers will not ship any product during those weeks and I highly doubt that domestic traders have stocked themselves up at these record high prices to take you through that period. B) Huge pieces of business have NOT been covered yet for the first quarter of 2017. Eventually these buyers will need to come in and this could have an effect on the market as well.

So if you need any coverage for the first few months of 2017, I’d recommend on buying. If you don’t like the prices being quoted, do not hesitate to bid! Processors at origin want to SELL . As long as the bids are reasonable we have a good chance of them being accepted.

Pecans:

While we’ve all been saying/thinking that come December prices will ease, that hasn’t happened yet. As matter of fact, prices are ticking upwards again as I’m writing this report! Domestic processors are already fighting and outbidding each other on in shell! I think they are crazy! If they’d only wait a few extra weeks and buy into this crop slowly, we’d have a chance of the market coming off a little but as of now it doesn’t seem like we’ll be that lucky anytime soon. I personally still wouldn’t book out my annual needs at this point. Rather buy what you need for the next 3-4 months and let this dust settle before making any major decisions.

Almonds:

After some record shipments over the past few months, November was a slow one for almonds. Most processors have expected it to be so and do not feel any pressure to sell at lower prices. You could shop around and find some desperate guys that are squeezable or some resellers that would like to cash in on their well booked positions. Most growers aren’t that excited with the current market softness as they believe that buyers will be back soon. January will likely be more stable but as the February bloom report will be looming ahead of us, growers might feel some urgency to sell. It’s all speculation! Who knows…

Walnuts:

These are selling well! Most suppliers are backed up and having a hard time getting all those orders out on time. I do not see this market dropping anytime soon. If you need anything covered through August ’17 I’d recommend on doing so!