Larger California Almond Crop and U.S. Gas Prices Up

Larger California Almond Crop and U.S. Gas Prices Up

Bob Larson
Bob Larson
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.

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