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 settled higher on Friday, with most deferred contracts up the daily trading limit on bullish US Department of Agriculture crop data and speculative buying, brokers said.
"This is all in reaction to the USDA (crop) report," said Jack Scoville, vice president with The Linen Group. "We've been trading sideways for what seems like months now.
It looks like we're finally breaking out. We've got some funds and specs who are caught short this market and are probably trying to get through the door at the same time."
CBOT rough rice futures settled up 40 to 50 cents per cwt, with July up 40 cents at $6.20 per cwt and September up 50 cents at $7.02 per cwt.
"There was heavy speculative buying that nudged us into buy stops above the $6.70 level in September and above the $6.75 level in November," one CBOT rice trader said.
"We came off the limit when Man Financial sold September and November and locals began taking profits. But then we ran back up the limit into the close."
All deferred contracts set new tops. September made a new high of $7.02 per cwt; November set a new high of $7.12; and January made a new high of $7.30 per cwt.
All of the deferred months except July settled up the daily limit of 50 cents per cwt.
There were 47 unfilled orders left in the September rice futures contract, and seven lots in November. There is no limit in the spot month, according to CBOT contract specifications.
The trading erupted after the US Department of Agriculture on Friday lowered its 2003/04 (new-crop) US rice production estimate to 195 million hundredweight from last month's estimate of 199 million.
That figure is well below the 2002/03 US rice crop of 211 million cwt.
In its latest monthly crop supply and demand report, the USDA on Friday also cut its 2003/04 US rice ending stocks estimate to 17.5 million cwt, well below its June estimate for 22.6 million cwt. That figure compares with the 2002/03-end stock estimate of 20.7 million cwt.
USDA also estimated totals US 2003/04 rice exports at 87 million cwt, down slightly from its previous month's estimate of 88 million.
CBOT rice traders eyed the advance of Tropical Storm Claudette for any sign it could harm the US rice crop when it is forecast to make US landfall next week.
MGR Archive 14.7.2003
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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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