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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USA Corn & Wheat Inspection Report
CBOT, May 21, 2004
Corn started Monday with our weekly export inspection report showing 28.4 m.b. were inspected for near term export off from 32.9 the week prior. This suggests a more neutral demand near term as 23 is bearish and 30 plus bullish. The crop progress report put planting at 92% complete with 63% emerged from the ground and the growing season off to a fast start as the five year planting pace is 77% seeded. 90% of our pricing volatility is weather and its impact on emerging crops. This weeks price break comes after a fast planting pace, met maybe one of the wettest Mays on record. May and June are our wettest months of the year so its not unexpected. Rain looks to fall across the midwest corn belt over the weekend then Tuesday to Thursday next week. The rain makes grain bear market may give way to short covering next week. Large traders and trading funds look to buy back short positions on dips as its month end and large traders wont leave short t profits sitting on the table as they head out for long three day holiday weekend. Consider covering shorts on dips with aggressive traders buying dips and trailing profit stops. Dec. support is 2.80 then 2.73 with resistance at 2.90.

Mondays weekly export inspection report showed 19.3 m.b. were inspected for near term export up from the week prior of 18.9 and a year ago of 11.1. It's a neutral demand number a 28 m.b. is needed to be bullish. The crop progress report for spring wheat in our northern tier states at 90% planted with 62% emerged from the ground. Our western plains winter wheat has 69% of the crop with the head developed. The crop was rated 54% in good to excellent condition unchanged from the week prior and under a year ago of 53%. The rally early week came4 as the trade saw unfavorable weather "HOT & DRY" in our winter wheat stated Kansas to Texas. Thursday and Friday saw a pull down as weather guys called for heat to leave and rain to hit Kansas and surrounding area into the weekend. With May being our key yield month before harvest begins in June, the market will change direction quickly with the weather . We look dry generally all next week form Oklahoma to Texas with Kansas and Nebraska seeing rain as the week starts. This means half the winter wheat gets stress and the northern half relief. This leaves wheat traders to come in Mon. and get the updated weather to determine if they should buy or sell. The day will be wetter rain falls in our northern area in the last half of next week or not. Spring wheat states north look great. Demand is bearish and the weather half bearish so we lean to the downside on trading. Sunday to decide.
MGR Archive 23.5.2004
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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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