Almonds Market Update June 2022 Week 23

California experienced scorching weather last week but finally experienced a lovely weekend with temperatures between the mid-70s to low-80s. The weather forecast shows that the next ten days will be in the low 80s before going back to triple digits. No rain is expected, which will be the expectation for the next four months. California depends entirely on its water infrastructure and groundwater systems to carry the plantations forward.

There continue to be talks with the state legislation about restrictions and how to control the overuse of water to ensure that everyone has equal access to water. The drought is expected to worsen only during the driest time of the year, which has not come yet.

In terms of crop production, it has been reported that there is a crop of 2.8 billion pounds coming this year. Most are still quite cautious of this number and will remain so until the crop is finally harvested.

The market is relatively quiet this week, but this could probably be because a new shipping report is expected to be released next week. It is worth noting, however, that prices have remained firm in the past week, primarily due to a heavier supply. An overabundance of standards 5's will be carried into the next crop season. We will have to see what becomes of the varieties as the season progresses.