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 & wheat future exports down up to 20 percent
CBOT, November 15, 2004
Our weekly export inspection report came out at 10:00 am central showing 37.3 m.b. of corn was inspected for near term export, down from 47 the week prior but over the four week average of 33.7. Last years inspections was 40.9, year todate inspections are 352 m.b. versus 359 a year ago. I view it as a natural at best demand signal. Corn opened 2 higher with 4 cent gains by midsession on short covering. You note, on my Friday report I said technicians will go home this weekend and see that the daily weekly charts all point to higher prices leaving shorts to enter with buy orders in hand. Additionally traders see our last crop report Friday as the last bearish supply side report of the year. The key to this being a genuine key reversal will be how they handle turn around Tuesday. If short covering and buying happens against Tuesday especially if we trade lower early and gives us a higher close we can look at last weeks lows as final. Support on Dec. is 1.97 with resistance 2.08. A close over 2.08 is needed to build a break out pattern. March support is 2.08 with 2.16 resistance. A close over 2.16 sets us up to push to 2.30 near term and 2.50 long term. Longs should buy the Jan. 2.10 puts for 4 cents or $200. protection and or bail on stops under support.

WHEAT
Our weekly export inspection report showed 18.4 m.b. were inspected for near term export up form 17.8 the week prior under our four week average of 20.5 and under a year ago of 19.4. Year to date inspections are 518 m.b. versus 523. I look at the weekly number as bearish demand indicator. After a two cent lower open wheat followed corn and beans and posted 5 cent gains at midsessions. Wheat struggles with a weak demand scenario but friendly chart patterns and a seasonal up time. Dec. support leis at 2.97 with resistance 3.20. March support is 3.08 with resistance at 3.30 I remain a weak long holding a call spreads I recommended Friday with Jan. 3.05 puts for protections.
MGR Archive 16.11.2004
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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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