In the stock-market the old, wellknown saying is… be away in May but remember be back in September.
In fact the same applies for the commodity-market because during the summermonths people go on holiday and are normally not very eager to take action. That works out for the consumer but also the purchasers but……practice has also learnt us that it does not always work out like that and this year could be such one where things go differently.
We have the awkward feeling that in August/September the chances for higher Thompson prices could be very realistic.
Well, although nothing is sure before a total crop is under the roof, it seems that Turkey but also Iran, could both look forward to an significant smaller crop than last season. Besides that, facts are already that Chile has a much smaller crop compared to the years before, which means that supplies in origin but also in the stores in Europe are very limited to say the least.
Based on such situation a much weaker market is not very logic. On the other hand, the new crop in California gives a much better feeling than the latter.
Whether a much better crop in California will bring stability again is the big question-mark, knowing that prices from that side of the pond not really exceed in competiveness.
So, please do not say that we did not warn you.