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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Wheat - Weekly overview
CBOT, Jan 30, 2004
Wheat started Monday with its weekly export inspection report showing 30.3 m.b. were inspected for near term export up from 25.7 the week prior and a year ago of 6.8. This suggests last weeks sharp drop is attractin some export interst. Thursdays weekly export sales report showed 580 t.t. of wheat was sold last week off 463% from the week prior but 17% over the four week average. Asian sales fell to 105 t.t. on the week from 541 the week prior. This was due to the Chinese new year leaving government offices closed for the week. Sales on the year are up 41% over a year ago. We called for prices to test 3.77 with a possible move to 3.71 our long term support line. Lows this week were 3.734. So, our call for a month end break came true. After losing sales to Australia earlier in the week,wesaw Egypt and Japan comr inThursdfay for a combined 195 t.t. of U.S. wheat into the world market. This is what we said it would take and that being, moveing low enough to find a price to trigger that demand. Continue to ignore talk of harsh weather in our winter wheat states. Many agencies talk of cold and storms hurting or stressing crops. Forget it. Thirty three years of watching wheat fields respones to winter has showed me its tough as steel. Wheat is lieing dormant in what I call a wee stage. It has no head or kernals developed to be harmed. We break dormancy in March. Even in March when we green up its very hard for frost, freeze or excessive rain to damage the crop. Only drought can effect quality. It's April and May that make or break yields and quality. So, ignore weather reorts that suggest there could be crop problems evolving. It's all about demand the next 6 weeks. With March going into deliveries at the end of Feb. we have to focus on the May contract now. May has support at 3.78 Monday, 3.79 Wed. and 3.80 by Fri. Resistance is 4.00 then 4.05. With Australia still a big export factor against us we have to protect ourselves. Buy May on dips with a March 3.75 put option for protection. If you took my advice this week and bought March under 3.77 and purchased the 3.65 put. Place profit stops on the market and bust the option.
MGR Archive 2.2.2004
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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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