The Oregon new crop is almost sold out. We are not booked forward becasue the market is stable to trending higher. We are working off about a half size crop and this has caused prices to advance. Pecan crop prices follow the almond and walnut crop prices because the pecan and the walnut compete for bakery ingredient sales. When pecans are high the walnut is easily used as a substitute.
Quality is also very good on the pecan crop.
Prices for new crop pecans are traditionally lower during the early spring and are firm in later summer months. The market for new crop is lower due to gigantic crop on trees. Sizes are expected to be small, with the 18-20 giant kernels in rare offerings. In another year Iranian kernel will be allowed to be imported. This will put pressure on the U.S. crop and ends a 20 year embargo.