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 lowers wheat production forecast
The US Department of Agriculture (USDA) has again lowered its 2006 and 2007 wheat production forecast, at the same time as grain prices soar.

Production estimates now total just over 1.8 billion bushels, or more than 48 million tonnes.

Last month's US wheat forecast was down 11 per cent from the previous marketing year.

Now, USDA World Agriculture Outlook Board chairman Gerald Bange says continued dry conditions have cut the 06/07 forecast by 14 per cent, and stocks by nearly 25 per cent.

"And as a result of that, we are in fact, seeing a stronger price," he said.

"The price outlook now calls for about $3.90 at the midpoint which is up nearly 50 cents from the 2005-06 years and would, in fact, be the highest price since the $4.30 that was recorded in 1996, contributing to lower US wheat exports, forecast off about 100 million bushels, at about 900 million bushels.

The USDA report caught commodity traders in Australia offguard.

Tony Smith from Plum Grove says no one was expecting such significant changes.

"Well, in the first two minutes, the market reacted as expected," he said.

"The futures exchanges opened up, the markets went straight up and then within two minutes everyone, including myself, was caught by surprise because they just fell in a heap.

"Chicago actually ended the day down 11 cents a bushel, which, for those who watch futures markets, is actually a pretty significant move."
MGR Archive 13.6.2006
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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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