Larger California Almond Crop and U.S. Gas Prices Up
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**California almond farmers are expected to harvest a slightly larger crop this year, according to a new report from the USDA.
The 2023 California Almond Objective Measurement Report estimates the crop will come in at 2.6 billion meat pounds, 1% above last year.
The estimate is up 4% from USDA’s subjective forecast in May and comes after one of the wettest winters on record, limited bee flights, and a cool spring.
**The nation's average gas price increased 2.1 cents last week to $3.55 per gallon.
The national average DIESEL price increased 2.7 cents and stands at $3.83 per gallon.
GasBuddy's Patrick De Haan says, "It's been a remarkably quiet summer for gas prices, which have been far less active than normal."
Diesel prices at the top 10% of stations in the country average $4.90 per gallon, while the bottom ten percent average $3.30.
**The Bayer Group adjusted its full-year outlook for 2023 downward this week, mainly due to a significant further decline in sales of glyphosate-based products.
For 2023, Bayer now anticipates sales of roughly $54 billion.
Further price declines and lower volumes due to channel de-stocking, especially for glyphosate-based products, as well as adverse weather conditions, have increased pressure.
