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, March 5, 2004
Corn started Monday with our weekly export inspection report showing 23.9 m.b were inspected for near-term export down from 41.2 the week prior but equal a year ago. Inspections are up 167 m.b. on the year. Thursday's weekly export sales report showed 394 t.t. of corn was sold last week down from 987 the week prior. The lower sales came as Asian sales were only 148 t.t. versus 236 the week prior. 3.00 corn, clearly has importers backing away. The week saw contract highs early with only light profit taking after Monday's highs as traders avoid heavier sales or profit taking on the weaker demand notes until Wednesday when they get a look at the USDA monthly crop report where the trade expects another cut in our carry over stocks or inventory for the start of our harvest and new marketing year Sept. Last months report put our carry over at 901 m.b. versus 981 the month prior an 1.083 b.b. last year. The concern is that even if we produce a record crop this year demand and usage looks to exceed production giving us a lower carry over in 2005. If corn is going to have a bigger pre planting correction of 15 or 20 cents it would have to be after the March 10 crop report. Even after the crop report we cant expect to big of a correction as corn needs to stay high enough to encourage farmers to plant or they will switch to beans which are very attractive now. March 31 is when our planting intention report comes out. This survey will give us our first look at how much corn, beans, oats and spring wheat acres growers intend to plant. Speaking of oats, don't ignore this step child. Because we don't export oats we lack the volatility of corn and beans. We produce just enough to meet our domestic demand for feed in the horse industry and food. This has kept us at a very tight ending stocks at each harvest. Our current carry over is a very tight 74 m.b. With corn at 3.00 and beans over 9.00 per bushel and wheat just under 4.00 who wants to plant oats at 1.62 for Sept. delivery. Oats are primarily planted in our Northern tier states of Minnesota, North South Dakota, Montana and Washington. These states traditionally see planting start later as their proximity north lends to colder and wetter conditions in our period March to April. WXRISK.COM sees a wetter than normal spring planting season. This could easily end up seeing growers choose to plant less oats and more beans as beans can be planted up to June 15. This sets oats up for an appreciable summer rally. Consider this. Buy the December 1.70 oat call for 8 cents or 400 dollars. Were trading at 1.62 and the margin on futures is 400 dollars so why risk the futures. Or buy the Sept. 1.60 call for 8 cents. It expires in August which might leave you a little short on time. On Monday buy May corn on any dip and buy the April 2.95 corn put for 4 or 5 cents or 200 to 250 dollars for downside protection going into Wed. big crop report.
MGR Archive 7.3.2004
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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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