Too many grapes in CA and WA

grapes left on a California vine in autumn 2019

America's two most important winegrowing states are suffering serious over-supply while demand slackens. 

One of the most hotly anticipated press conferences in the wine world each year (if ever such an event could be said to be eagerly awaited) has long been the release of Rob McMillan’s annual State of the Wine Industry Report. An executive and founder of the wine division at Silicon Valley Bank, McMillan oversees one of the primary sources of lending capital for the California (and Oregon and Washington) wine industries. As a service to his customers, McMillan conducts an annual survey of the wine...