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
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Corn exports at non-supportive demand
CBOT, April 27, 2005
Our weekly export inspection report came out showing 33.2 million bushels of corn was inspected for near term export up from 31 the week prior and 26 a year ago. Year today inspections are 1.091 b.b. versus 1.198 b.b. a year ago. We need 40 m.b. plus to be bullish. Inspections continue to be a non-supportive demand signal. As expected corn saw more month end short covering today. Large speculators entered this week short over 25 thousand contracts and small speculators short more than 70 thousand. That heavy short position and a very wet weather outlook for Wednesday to Saturday slowing our planting progress all led to our higher close. July corn settled up 4.6 cents at 2.222. Support lies at Friday’s high of 2.194 and 2.17 while resistance is up at 2.26. To take out 2.26 we need weather updates Wednesday into Friday telling us next week will start off wet as well furthering talk of planting delays. Tonight we get a planting progress report. Over 35% planted and we open lower Tuesday under 28% and we open higher.

Our weekly export inspection report came out showing 20.9 m.b. were inspected for near term export up from 13.3. the week prior but under a year ago of 31.5. Year todate inspections are 930 m.b. versus 1.016 b.b. a year ago. It is a start to a better demand pattern but we need follow through with more weekly friendly crop reports on demand. Wheat surprised everyone today with gains 21 cents higher in late trading before settling up 11.4 cents. May wheat opened 5 cents higher as expected in sympathy with higher corn and beans. Talk of good weekend rains in the winter wheat belt and the weekend freeze missing wheat states with head development had us fail to get through our 3.15 resistance early but the weekly export inspection report surprised the market at 10:00 a.m. after the opening by suggesting our bearish demand scenario could be over led to fund short covering pushing us through 3.15 picking up all the buy stops up there pushing us to a 3 week high. It was mechanics of the charts. Tuesday’s open will depend on tonight’s crop progress reports. If the winter crop comes in over 69% good to excellent condition we open lower and under 69% we open higher. May support now lies at 3.13 and July 3.22.
MGR Archive 28.4.2005
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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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