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
CBOT, Feb 27, 2004
Monday started with our weekly export inspection report showing 41.2 million bushels were inspected for near term export, up from 24.9 the week prior with year todate inspections up 22% on the year. Thursdays weekly export sales report showed 987 t.t. of corn was sold last week up 4% over the week prior and 2% above the four week average. Sales were good considering Asian sales were only 236 t.t. versus the two weeks prior of 323 and 489. Our key player was Mexico at 365 t.t. Asia's our primary corn buyer and we need them to be consistent as countries like Mexico and Tunisia are inconsistent buyers. I look at the number as slightly negative for demand as it suggests recent contract highs may be leaving monthly Asian customers to back away. May corn futures find support Monday at 2.96. A close under here and 2.85 is next stop. The new contract highs this week reflect our continued concern over shrinking world stocks as importers continue to reach out for feed corn for expanding feedlot populations and increased corn usage for ethanol production which could increase 12% on the year to consume 1.4 b.b. The big key to U.S. demand is Chinas small crop this year and talk of planting more beans and less corn leaves them unable to fill surrounding Asian neighbors needs leaving the U.S. as the primary port for Asian feed. Next week corn looks to follow soybeans volatility, so watch South American weather closely. Corns main interest next week will be to seek out private estimates on what the March 10 U.S.D.A monthly crop report will say. Last month the government estimated our carry over or ending stocks at th3e start of the new marketing year and 2004 harvest at 901 m.b. down from 1.087 b.b. but consumption at 10.4. Though recent contract highs set us up for price breaks daily, I look for the trade to buy long ahead of the report on thinking the carry over will be dropped again. Put stops under support and or buy the May 2.95 put option for protection. Long term we could see 3.25 to 3045 into planting. Just a note, the National Oceanic and Atmospheric Administration is calling for a warmer and drier than normal June to August time frame. Needless to say if their right our crops will suffer. WXRISK.COM sees a wet March and April. This would lead to a slow planting pace which lead to a slow planting pace which is more bullish for corn as late planted corn matures later when its hotter.
MGR Archive 28.2.2004
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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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