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, June 4, 2004
Wheat slew of reports started Tuesday with our weekly export inspection report showing 21.1 m.b. were inspected for near term export versus 20.4 the week prior and 13 a year ago. It's a slightly friendly number but not bullish. The winter wheat condition report showed 41% of the crop was in good to excellent condition versus 53% a year ago and 61 the year prior. Not a good year to harvest a high quality crop and become a primary port for milling wheat for human consumption. This should hurt demand into fall. Harvest has begun in Texas and Oklahoma and should begin in Kansas late month. Harvest inventory pressure will limit strength. The best chance for a rally in June and July comes on spring wheat problems. The condition report put spring wheat at 63% in G-E condition up form 59 the week prior and 53% at the end of last years growing season but well under a year ago of 82%. We have 90% of our growing season ahead to improve or kill the crop. Better or drier weather this past week looks to improve our quality rating on Mondays update. Thursdays weekly export sales report showed 168 t.t. of wheat was sold for new crop shipment down from 633 the week prior. Importers backed off as wiltn4er wheat harvest is underway and they look for lower cash prices in June to buy. WXRISK.COM sees a very wet pattern for our spring wheat states north into Wed. This might lend concern to traders. Support on July wheat lies at 3.64 then 3.50 with Sept. at 3.71 then 3.50. The direction of wheat in June will change as quick as the weather. Bulls can consider buying the August 3.80 wheat call option and sell the 4.20 call for a spread price of 10 or 11 cents or about 550 dollars total cost and risk with 40 cents profit potential. They expire the third Friday in July but takes you thru our winter wheat harvest and key yield time for spring wheat. On the bear side consider buying the August 3.85 put for 10 cents or better. You have that much risk in the futures every day. If you haven't already get a good weather service to subscribe to thru Sept. if you want to have a big trading edge. I follow all weather services but find Dove Tolleris of WXRISK.COM at 804 717 8256 as the most timely and accurate.
MGR Archive 6.6.2004
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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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