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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CBOT corn, wheat report
The week’s reports began yesterday with Monday’s weekly export inspection report showing 37.7 million bushels of corn was inspected for near term export about equal the week prior of 38.9 but over a year ago of 33.3. Year to date inspections are 1.563 b.b. down from 1.681 a year ago. The new marketing year for corn and beans begins September 1st. It is a slightly friendly demand signal for the week. Demand signals remain 5% of our pricing influence and weather and its impact on corn 95% through August as we finish the ear filling stage. After the close of trading Monday our crop condition report shoed 53% of the crop was in good to excellent condition unchanged on the week. Traders had expected a 1 to 3% improvement. Apparently the heat dome prior to the rains and dry weather since last Wednesday offset any benefit from the rain.10 to .50 inches over no more than 60% of the growing area this week. It is a supportive forecast but not a bullish one as there is room for rain error with ending stocks to add to this year’s harvest at 2.1b.b. the 6 to 10 day looks generally warmer and drier than normal. We are coming to an end of key pollination. The filling stage is next. Not as important period for yields but important just the same. For corn to rally 30 cents or more we will have to have a big bean rally or corn looks to drag its feet. A dry forecast and prospects for lower carryover stocks on our August 12th crop report we should trade higher into mid-month. September corn has support at 2.31 and 2.26.

Monday’s weekly export inspection report showed 20.5 m.b. were inspected for near term export up from 17.9 the week prior but under a year ago of 24. Year to date inspection are 133 m.b. versus 164 a year ago. The new wheat marketing year began June 1st. It is a neutral to friendly demand signal only because we were over our four week average of 14.7 m.b. Monday’s spring wheat crop condition report showed 68% of the crop in g-e condition off 2% from the week prior and over a year ago of 65%. Harvest has begun at 7% complete and winter wheat harvest at 85%. Harvest plenty and slack demand leaves fundamentals bearish but wheat continues a followers roll to beans and corn which look higher on current forecasts. September wheat has support at 3.20 and resistance up at 3.48.
MGR Archive 4.8.2005
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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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