Final position report for the US crop year and overall their...

Final position report for the US crop year and overall their crop receipts finished below forecast at 2.57b pounds vs 2.6b forecast.

But shipments were also down 2.56b actual vs 2.78b forecast.

So they were left with a much higher carryout inventory of about 791.9m vs 600.0m forecast. Whilst higher than forecast, shipments were higher (allowing for rejects/wastage) than receipts meaning there was a 5.5% reduction in carryout year on year.

In the final months of the US crop year shipments had dropped significantly as buyers stayed out of the market to allow their previous build up of inventories to reduce. At some point buyers will have to come back into the market but ultimately depends on what their inventories are like and how demand is running.

Perhaps with yesterday's jump in SHV's share price the brokers have the inside word that almond buyers are coming back into the market again.