June position report confirms the US is heading for a sub 500m pound carryout with one month of the crop year left to go.
Inventory at the end of June was 684.5m pounds, down 29.87% on the same time last year however they are basing that on 2% theoretical loss & exempt when the actual numbers are more than double that and shipments have been averaging over 200m pounds a month.
Carryout is going to be around 425m pounds judging on the current situation, but dependent on actual shipments in July. This would be well down from the 500m pounds that had earlier been talked about and combined with the Objective crop estimate being 7% down on the May Subjective estimate will put pressure on the almond pricing.
June position report confirms the US is heading for a sub 500m...
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