March weather has been as close to ideal for growing as one could hope. While we did have a hail storm and a few days of rain there, it has been relatively event free. The extended forecast continues to indicate clear sailing as we move into a period with higher than normal temperatures. The trees are full with leaves now and look healthy. It is too early to speak of the outlook, other than to mention the good weather we have had. Only time will tell now.
The industry remains mixed this week as buyers and sellers continue to assess their position and move current stocks. With the heavy sold position and production running at full tilt, no one is quick to lower prices when processing lines are full for the next two months. Domestically there is limited stock available for spot orders, while export markets are moving on-hand inventories and new stocks are just starting to arrive. Oh, and those delays are still occurring as ports are backlogged!
What is most interesting and something we have mentioned in previous weeks are the changing spreads between Nonpareil and the other polliniser varieties. As the industry sold Nonpareil early at a discount, prices have started to firm now as the supply is getting tighter. Meanwhile we are seeing the pollinizers remain flat. The spread now between the two are some of the widest spreads we have seen in two years In fact, last year it was quite the opposite.
With the next shipment report not due out on April 9, 2021, there is plenty of time to take advantage of an excellent buying opportunity.