May Position Report
Today the Almond Board released the shipments for May (170,691,334 million lbs). Down 4% from last year but easily the 2nd best May shipments of all time. Committed shipments are up 6% and uncommitted inventory is down 6%. For the first time new crop sales are being reported (209,350,941 million lbs). If we base the 17 crop off of the subjective estimate at 2.2 billion lbs, this would put us around 10% sold for the 17 crop.
Overall all this was a fairly positive position report and should keep the market stable to firm