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U.S. kernel prices found support in the global walnut market in the week to Thursday, particularly lower half-count items, as recoveries in local currencies against the U.S. dollar in destination markets improved buying sentiment.
Walnut shipments from California slowed in October, the first month in the crop year when substantial volumes of new crop can be shipped, highlighting the challenging demand environment the U.S. industry faces.
Prices showed marginal gains and losses in the global almond market the week ending Tuesday as a new position report underscored a challenging environment for sellers while a softening dollar against other currencies bolstered demand.
California ended the first quarter of its current marketing year in its lowest sold position on record, underscoring the challenges sellers face igniting demand even amid decade-low prices.
Walnut inshell and kernel prices were steady in the week to Thursday as market participants said an improvement in demand from destination markets could signal a stabilizing market after several weeks of sustained falls.