The Motley Fool

Here’s why the Select Harvests share price is surging today

The Select Harvests Limited (ASX: SHV) share price is up 6% to $6.46 today after the almond grower lifted its forecast for average almond prices from $8.20 – $8.50 a pound to $8.40 to $8.70 a pound for its 2019 crop.

The group attributed the expected almond price rise to a shortfall out of California which is the world’s largest almond growing market and as global demand remains healthy in particular from China.

The group also flagged that higher water costs would be offset by better yields and other productivity wins in assessing average production costs.

Select Harvests recently moved its financial year end to September 30 2019 and will report its results for the six-month period ending March 31 2019 this May.

Its management team believes the change in reporting period from a June year end will benefit the business and investors as it will fit in better with almond growing, sales, and production cycles.

Due to the unpredictability of almond prices the stock is actually a little lower than it was this time 5 years ago. As such anyone wanting to invest in this business should be careful around their timing.

Top 3 ASX Blue Chips To Buy For 2019

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked...

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool’s in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool’s Top 3 Blue Chip Stocks for 2019."

Each one pays a fully franked dividend. The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies move – we may be forced to remove this report.

Click here to claim your free report.

Motley Fool contributor Tom Richardson has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

NEW. Five Cheap and Good Stocks to Buy in 2019…

Our Motley Fool experts have just released a brand new FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.8% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.