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Biz Round Up – Oil vs Almonds

November 15,2105-

Kern Oil Falls To Lowest Price of The year
Midway -Sunset Kern oil fell to $38.88 yesterday as the world oil market headed lower a as well. WTI oil trading in NY closed at $ 41.75 today meaning Kern oil is likely to be below $38 tomorrow,
Lower oil prices should mean more relief at the pump in California with the state average at $2.82 a gallon today compared to $3.20 a year ago.The trend in prices is down.

Holiday Shipments To Be Higher Says UPS,FedEx
The big package shippers UPS and FedEx are both predicting a busier Holiday season with UPS expecting  the seasons deliveries to be up 10% and FedEX predicting a 12.4 10% rise.

California’s Fall Field Crops Down
Perhaps not surprisingly,  production of California’s fall crops is expected to be mostly down this year over last. Fields crops like corn and cotton have been hard hit by the epic drought. USDA says corn grown in the state is expected to be down 21%,cotton down 18%,rice down 5%,potatoes down 5%,although sugar beet production will be be up 10%.

Raisins Fetch $1703 In 2014 Crop Year
USDA says this past year’s raisin crop reached 237,775 tons with an average price of $1703 per ton. That compares to $1619 a ton in 2013.

Screen Shot 2015-11-12 at 2.11.33 PMAlmond Planting Boom Fed By Record Prices
CDFA reports that nurseries sold 96,000 acres of almond trees from June 2014 to May 2015 of which 72,000 acre were new orchards, about 75%. The boom in planting compares to 67,000 acres sold for the same period the year before of which 48,000 acres were new orchards. There were 54,000 acres of almond trees sold in 2012-2013 of which 35,000 acres were planted as new orchards. Total almond acreage is approaching 900,000 acres in the state.Growers are being encouraged to plant with prices  well over $3 per lb( $3.19) compared to $1.45 lb as recently as 2008.

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