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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Booming fuel industry's hunger for corn to rise 50 percent next year
The ethanol industry's demand for corn should increase 50 percent next year, driving high corn prices even higher and spurring the conversion of more farmland to the crop than previously expected, federal economists said today.

U.S. corn acreage is expected to be the highest in 60 years -- 87 million acres this crop year and more than 1 million acres more than the Agriculture predicted just last month, USDA chief economist Keith Collins said.

"We are witnessing historic production in fuel crops," Collins told.

The surge in corn production is aimed at satisfying the growing demand of the ethanol industry. Collins predicted ethanol would consume 2.15 billion bushels of corn in 2007 and 3.2 billion bushels in 2008.

Corn prices are expected to remain high at about $3.60 per bushel, Collins said. Corn prices reached historic highs last week at over $4 a bushel, more than double the prices from a year ago.

Farmers are expected to see net returns of about $334 per acre for corn next year, a 70 percent increase over last.

The effect of the ethanol-fueled rise in corn prices is rippling throughout U.S. agriculture.

"The underlying theme here is things have changed in agriculture," Agriculture Secretary Mike Johanns said.

Farmers are planting corn on acres that once grew other crops, USDA said. Being converted are Midwestern soybean fields, Western spring wheat farms and Southern upland cotton.

Prices for all major U.S commodities, except cotton, are expected to rise next year, as farmers trim what has been excess production in other crops to grow corn.
MGR Archive 4.3.2007
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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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