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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Corn - Weekly review
Corn began Monday with our weekly export inspection report showing 38.6 m.b. were inspected for near term export, up from 35.4 the week prior and four week average of 34.2 were up 153 m.b. on the year. The weekly numbers suggest at least a firm demand. Thursdays weekly export sales report showed 986 t.t. of corn was sold last week up 27% over the week prior and 30% over the four week average. Asian sales were 489 t.t. versus 580 the week prior. There's two ways to look at this report. One, the better sales are a positive demand signal at a time when the trade expects slower sales as the Asian bird virus threatens exports into that region and two, Asian sales actually were lower on the week and therefore sales are beginning to slow and will show up in the near term. Overall, the sales numbers are a neutral near term demand indicator. Friday saw a sale of 112 t.t. to an unknown destination which always means Asia, so much for the bird flew. We came into this this week looking to test support of 2.67 on March and 2.71 for May. We came within 2 to 3 cents of each support before buying surfaced. Were still very heavy with long positions in March futures. With 14 trading days left in March futures before delivery notices go out and longs are forced to sell, we have to assume March longs will do a lot of rolling over or sell March and buy the May to Dec. contracts. Tuesday at 7:30 am central time we get our monthly U.S.D.A. crop report. Last month it put our carry over stocks or inventory expected to be left over at the start of our new marketing year Sept 1 at 981 million bushels down from 1.299 b.b. the month prior and 1.086 a year ago. Most feel they could cut carry over again while others see the Asian bird flew leaving them to lower it. Longs need to have protection ahead of the report so consider this. On Monday buy the on the money call and put for March. It should be about 4 cents or 200 dollars cost each. If there's a big move either way on a surprise number, one side will profit. Stay out of March futures now and near term traders should trade the May contract. May has support and 2.75 then 2.71 with the bottom of the gap as worst case scenario down at 2.59. Resistance is 2.86. Buy dips to support with a 4 cent stop.
MGR Archive 8.2.2004
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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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