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 Commodities: Wheat Futures Soar On Demand Picture
NEW YORK -(Dow Jones)- Wheat futures soared to fresh 11-year and all-time highs Wednesday on bullishness about demand and technical strength.

On the Chicago Board of Trade, September wheat ended 27 cents stronger at $ 7.18 1/2 a bushel, after setting a fresh 11-year high for a front-month contract of $7.20 a bushel. That exceeded the previous day session high of $6.97 a bushel. The contract also traded above a price level many wheat industry members consider to be the unofficial all-time high for a front-month CBOT wheat contract.

CBOT December wheat settled 27 3/4 cents higher at $7.31 3/4 a bushel after setting a fresh all-time high for a second-month contract of $7.34 a bushel. That topped the previous day session high of $7.14 1/2 a bushel. The contract briefly traded limit up, or 30 cents higher, before trimming gains a bit.

Despite high prices, the U.S. has attracted strong export demand this summer amid production problems in Europe and the Black Sea region. The buying trend looks as though it will continue in the near term as traders wait to see how much wheat the Southern Hemisphere will produce, an analyst said.

Australia, a major world exporter, is off the global market until it can harvest its wheat after a drought devastated last year's crop, traders said. There are concerns dryness in parts of Australia and Argentina will affect output.

Kansas City Board of Trade September wheat finished 12 cents higher at $6.67 a bushel, and Minneapolis Grain Exchange September wheat closed 13 1/2 cents stronger at $6.62 a bushel.

In other grains trading, soybean futures rallied on technical buying and crop concerns. Corn futures were boosted by spillover support from other grains and technically inspired buying, analysts said.

September soybeans settled 15 1/2 cents higher at $8.31 1/4 a bushel on the CBOT, and November soybeans finished 16 cents higher at $8.47 a bushel. September soymeal settled $6.80 higher at $229.20 per short ton, and December soymeal settled $7.50 stronger at $236.60 a short ton. September soyoil ended 0.28 cent higher at 35.20 cents a pound, and December soyoil finished 0.24 cent higher at 35.82 cents a pound.

September corn ended 9 cents higher at $3.47 1/2 a bushel, and December corn finished 9 1/4 cents stronger at $3.64 1/4 a bushel.

In precious metals trading, gold futures tracked equities higher as the metal also found support from a weaker dollar and safe-haven buying, analysts said.

December gold rose $2.50 to close at $668.70 a troy ounce on the Comex division of the New York Mercantile Exchange. September silver rose 5.5 cents to $11.565 an ounce.

Gold saw flight-to-quality buying as JPMorgan (JPM), Citigroup (C), Wachovia Corp. (WB) and Bank of America Corp. (BAC) said they had each borrowed $500 million from the Federal Reserve's discount window amid the current market liquidity crunch, said Tom O'Brien, analyst and editor of "The Gold Report." That makes the markets nervous about the overall health of the economy, he said.

In other metals trading, October platinum fell $2.80 to $1,248.60 an ounce, September palladium declined 50 cents to $323 an ounce, and September copper rose 6.2 cents to settle at $3.2120 a pound.

On the New York Board of Trade, world raw sugar futures strengthened as trade houses and a few funds bought the October-March spread, and arabica coffee futures rose as September rolling dominated before deliveries begin Thursday, brokers said. Meanwhile, cocoa slipped on chart-related sales, but cotton futures hardly moved in light dealings.

October sugar ended 0.19 cent higher at 9.50 cents a pound, September coffee closed 0.20 cent higher at $1.1445 a pound, while December coffee finished 0.45 cent stronger at $1.1880 a pound. December cocoa closed $4 lower at $1,755 a metric ton, and December cotton 0.01 cent higher at 58.36 cents a pound.

In Nymex energy trading, crude oil futures closed at a new eight-week low after data from the U.S. Department of Energy showed a surprising fall in gasoline stocks and a rise in crude oil inventories that went against analysts' expectations.

The front-month October light, sweet crude contract settled 31 cents, or 0.4%, lower at $69.26 a barrel. Settlement at this price is the lowest since June 27.

September gasoline settled 2.53 cents, or 0.1%, higher at $1.8890 a gallon. September heating oil settled 0.37 cent, 0.2%, lower at $1.9483 a gallon.

Front-month September natural gas futures settled 23.9 cents lower at $5.578 a million British thermal units.

Natural gas futures tumbled to a fresh 10-month low, losing 4%, as traders bet that blossoming storage levels and slack demand as summer peters out offset potential production interruptions from U.S. Gulf of Mexico storms.
MGR Archive 23.8.2007
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Region Type Price  
Russia Rapan $ 700
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USA Calrose #1 $830
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EU Prices Baldo €660
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