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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Australian grain prices expected to increase
Hopes of higher wheat prices for Australian growers have risen as northern hemisphere crops battle dry conditions in the lead-up to its harvest.

Chicago markets are offering about $190 a tonne for Australian Premium White wheat at port this harvest, with prices of about $212 a tonne for December 2007 port delivery based on the current Australia-US dollar exchange rate.

AWB Limited this week estimated the FOB pool return for APW wheat at $195-$205 a tonne.

This is up to $26 a tonne above last year's expected returns.

Grain marketers are urging growers to seek professional advice and make the most of what are shaping up as the best early season prices since 2004.

Grainassist manager Alastair Beaumont said markets were being driven by weather as many northern hemisphere crops approached the season's end in drier than normal conditions.

''Analysts will be watching the rain over the next week,'' Mr Beaumont said.

The world has about 80 days' supply of wheat on hand, which is an historically low level.

World wheat stocks have been as high as 210 million tonnes in recent years but this has dipped to 142 million tonnes, according to International Grains Council figures.

Pulses had already reacted to the global wheat supply, rising up to $100 a tonne on last harvest's prices, Mr Beaumont said.

He said the US was the largest wheat exporter and people looked to Chicago and Kansas markets for price direction.

He said if growers were considering planting more wheat based on the promising early season prices, they should also look at their options to seal the extra wheat.

AWB Limited senior grain marketer Tony Matchett agreed.

''If growers are planting wheat based on $190 a tonne they should be hedging some of the price risk associated with production,'' he said.

Harvest is already under way in traditionally self-sufficient India, where yields are falling short of last season in most regions.

Imports to India are politically sensitive but AWB has already sent one shipment and suggestions are there could be several millions tonnes imported this season.

Hot and dry conditions have weakened Iran's expectations, with potential for at least two million tonnes of wheat imports needed there.

About 15 per cent of China's northern plains wheat belt is also reportedly facing dry conditions, with forecasts of a 3 per cent fall in China's production.

Parts of the southern US are also facing severe or extreme drought conditions, with the wheat belt of Kansas and Oklahoma among the hardest hit.

Some reports suggest Oklahoma is facing its smallest wheat crop in 50 years.
MGR Archive 11.5.2006
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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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