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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US Wheat Weekly review
CBOT, April 8, 2004
Wheat kicked of Monday with our weekly export inspection report showing 20.4 m.b. were inspected for near term export off from 23.4 the week prior but over a year ago of 12.3 the week prior but over a year ago of 12.3 year todate inspections are 946 m.b. versus 721 a year ago. It's a neutral to slightly friendly demand signal. Mondays crop progress report put our 6 state spring g wheat crop at 6% planted. The crop condition report put our winter wheat crop in 48% good to excellent condition versus 51% a year ago. Weather and its impact on emerging winter wheat is 70% of our pricing influence into our late May harvest. Key state to watch is number on wheat producer Kansas. As crop conditions rise prices will fall, if they decline prices will rise thru our June harvest completion, with demand being our wild card. The key to trading wheat long term is understanding that a big wheat crop leads to higher prices and a smaller crop to lower prices. Wheat's value is based on its quality. A poor crop leave little supply of high quality milling wheat for human consumption leaving the U.S. to become a last port of origin to turn to for demand, and of coarse demand drives the market. A big crop mean supplies of milling wheat our plentiful leaving the U.S. as a primary port to turn to for demand. In corn and beans it works in reverse. Thursdays crop report put our carry over for the start of the new wheat marketing year June 1 at 531 m.b. down 13 m.b. from the month prior. This figure should not be viewed as bullish for pricing as our new crop supplies hit late May and June as harvest progresses. These are ample stocks for our near term. Thursdays weekly export sales report showed 456 t.t. of wheat was sold last week up from 166 the week prior but 2% under the four week average. Not a bad demand number considering last weeks lofty prices but 700 t.t. or more is needed to be bullish. Now, what about next week. Our winter crop is breaking dormancy. Its still in a weed stage but will developed kernels for yield and quality ratings late April into May. WXRISK.COM the private weather site sees the hard red winter wheat belt from April 10 to 14 as wet but cold. This looks to give us a slow emergence. The 14th to 19 looks to warm up with more rain. The overall out look is slightly negative for pricing as the market sees more of a need for and knows we will eventually get sunnier and warmer. Hold the May put I recommended for insurance and if your long July get out on a close under 4.15. Demand isn't good enough to rally the market and weather looks to be negative.
MGR Archive 10.4.2004
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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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