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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U.S. wheat futures lower after Egypt chooses Russia
U.S. wheat futures fell last week after Egypt chose to buy Russian supplies rather than U.S. grain, which closed at a two-month high.

Egypt said it had bought 60,000 tons of Russian wheat. Some analysts had expected Egypt to purchase U.S. grain. Futures in Chicago are up 77 percent this year, propelled by buyers snapping up supplies after adverse weather hurt crops around the world.

''Egypt bought Russian wheat last night, and the market may be a little disappointed,'' said Vince Ambrose, a trader at MF Global in Chicago. ''It was a small amount so it was disappointing to the market over all.''

Wheat futures for March delivery fell 9 cents to $8.85 a bushel on the Chicago Board of Trade.

Futures closed at $8.94 on Tuesday, the highest close since Oct. 4. The price reached a record $9.6175 a bushel on Sept. 28 after bad weather curbed global production and demand increased.

Egyptian importers purchased U.S. supplies this year to ensure that they had enough wheat to meet demand and to curb food-price inflation.

As of Nov. 22, American advance export sales were up 88 percent in the marketing year that began June 1 from the same period a year ago, U.S. Department of Agriculture data show. Some analysts expect demand to slow, arguing that most importers have met their needs.

A storm that is expected to bring precipitation to the southern U.S. Great Plains may also be weighing on wheat prices, as dry weather has hurt the winter crop there, Meteorlogix said Wednesday. The chance of ''beneficial'' rain is diminishing as the storm moves east, the forecaster said.

''The weather will help prices here on the downside,'' Ambrose said. Plants in some areas, he added, ''have poor establishment going into next year so some rain would help and it looks like they're going to get some.''

Soil-moisture conditions in the eastern Midwest, where soft-red winter varieties are grown, are favorable for plant growth, Meteorlogix said. The weather is also helping crops in Russia and Ukraine, where snow cover is protecting plants that have mostly gone dormant for the winter, it added.

Wheat was the fourth-biggest U.S. crop in 2006, valued at $7.7 billion, behind corn, soybeans and hay, according to government data.
MGR Archive 10.12.2007
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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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