Developing Countries Will Lead Global Rice Import Growth in 2013-22, Says USDA Rice growers positive California MG prices are UP Russia MG Harvest coming to end Egypt open rice exports Vietnam’s rice export in tough competition with India Thai rice exports in May Rise Above Target This Year Viet-Nam Rice exports likely to fall this year
Australia Medium Grain Rice #1 $ N/A    Egypt 101 #2 $760    Egypt 178 #2 Rice $730    EU Prices Baldo €660    EU Prices LG-A Ariete 5% €550    EU Prices MG Lotto 5% €500    EU Prices RG Balilla 5% €500    Russia Rapan $ 700    USA Jupiter Paddy $375    USA Calrose #1 Paddy $480    USA Jupiter Rice $630    USA Calrose #1 $830   

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CBOT rice futures up
CHICAGO ,Chicago Board of Trade rough rice futures ended firm on Friday on commercial buying and liquidation of short positions after nearby July sank to 2-1/2 month low, brokers said.
"Today commercials were really good bidders in the back," said Jack Scoville, grain analyst and vice president at Price Futures Group.
"And I also heard there may be some receipts cancelled which would imply that the price has Goth so cheap that cash has become favourable to the board.
They got it cheap enough that it makes sense to take the cash."
CBOT rice futures ended up 3-1/2 to 9 cents per hundredweight, with July up 9 cents at $5.61 and September up 8 cents at $6.42.
CBOT July rice fell in trade to a low of $5.45 per cwt, the lowest level since April 4, before rallying to close just below the key 100-day moving average of $5.67.
"There was large liquidation of July in the day, and then heavy liquidation of short positions," one CBOT rice trader said on Friday.
Scoville also noted that there has been a concern about CBOT July rice deliveries because there was fear some "lower-grade" rice would be delivered that wouldn't be able to be delivered against the September contract.
The CBOT September rice contract has new specifications that change the grade of deliverable rice.
The new specifications reduce the maximum number of stained kernels, as defined by USDA, permitted in a 500-gram sample to zero from five, and increase the maximum number of lightly discoloured kernels to 75 from 10.
There were 1,457 rice contracts registered with the exchange as of Friday's CBOT market close. Registration with the CBOT means the rice is eligible for delivery against the CBOT rice contract but does not guarantee delivery.
"There has also been some pretty good speculative and commercial buying in the back months," Scoville said. "Ideas are that (export) demand may pick up."
Moreover, he noted that the US Department of Agriculture might report a smaller-than-expected planted acreage figure on Monday's report.
"The rice crop is in a little worst shape than it was last year," Scoville said. "So people like the back. It's just a matter of getting through this old stuff."
CBOT rice futures volume on Friday was estimated at 2,160 contracts, compared with the 2,250 lots traded on Thursday. Rice options volume was seen at 150 lots.
MGR Archive 30.6.2003
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Region Type Price  
Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
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