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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Wheat is white-hot on a crop of activity
Hedging by Europe's growing band of biofuel producers, and droughts and floods in crop areas, have made the normally an unglamorous commodity wheat into one of the City's hottest speculative trades.

Pan-European exchange Euronext.liffe said this week that the number of wheat futures contracts traded last month was up 237% on a year ago, while July volumes had been up 169%.

Wheat prices have this year climbed by a third in dollar terms, spurred on by droughts in Australia, the US and Argentina, floods in Hungary and Poland and decreasing global grain stockpiles.

Peter Blogg, head of business development for commodities at Euronext.liffe, said the exchange's users also reckoned that "the advent of a European biofuel market had changed the balance of supply and demand".

He added: "Euronext.liffe has seen a recent series of new volume and open interest records in its milling wheat and rapeseed futures and options contracts."

Chicago Board of Trade wheat prices have climbed from $3 a bushel in January to more than $4. They touched a low of $2 six years ago.

David Lehman, chief economist for commodities at CBOT, said: " International grain stocks are down 12% compared with a year ago, and US wheat production for 2006-7 is expected to be down about 14% due to a drought in the Great Plains this spring."

The CBOT said trading volumes in its wheat futures soared 76% to 1.6 million in August from January levels.

Will Armitage at bookmaker IG Index said: "Eighty-five per cent of our clients who are trading wheat are long, rather than short. It's been a good one for punters - many of them made up-bets on the wheat price and then just sat on those as the price rose."
MGR Archive 8.9.2006
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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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