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 Government predicts smaller corn, soybean harvests
The nation's farmers are expected to harvest less corn and soybeans this year, the government said Thursday.

But the forecast is not necessarily bad. Farmers as a whole, including those in McHenry County, are coming off a record year in 2004. And if the U.S. Department of Agriculture's predictions come true, they would have the second-largest harvests on record.

Plus, the outlook could change.

"The forecasts were pretty much as expected," said Sid Love, grain analyst for Kropf & Love Consulting in Overland Park, Kansas.

"It will be June 30 before we know the actual size of the plantings, and summer weather can make a huge difference in final production."

Farmers probably will harvest 10.9 billion bushels of corn this year, down 7.6 percent from last year's record crop of 11.8 billion bushels, Keith Collins, the USDA's chief economist, said during the annual agriculture forum in Arlington, Va.

Soybean production will be down 5.7 percent and the wheat harvest will be reduced by 7.3 percent, he said.

The estimated corn and soybean crops, while smaller, still will mean ample supplies for Decatur-based Archer Daniel Midland Co. and other companies that process grain into vegetable oil, ethanol and animal feed.

The large crops also could help keep feed costs down for meat producers such as Springdale, Ark.-based Tyson Foods Inc.

Collins said 2.96 billion bushels of soybeans probably will be harvested this year, down from last year's down from last year's crop of 3.14 billion bushels

Farmers could end up switching some acres to corn from soybeans because of concern soybean rust disease might damage their crops, he said.

The aggressive fungus was found for the first time in the United States in Louisiana in November and has since spread to five other southern states.

Corn for May delivery fell 0.25 cents to $2.135 a bushel on the Chicago Board of Trade.

Prices have fallen 37 percent since reaching a seven-year high in April on expectations that farmers would harvest a record crop.

Soybeans for May delivery fell 8.5 cents, or 1.5 percent, to $5.74 a bushel on the Chicago exchange.

Prices are down 46 percent since reaching a 15-year high in April.
MGR Archive 27.2.2005
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Russia Rapan $ 700
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USA Calrose #1 Paddy $480
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