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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Commodities Wrap: Grain Supply

Food companies, particularly those that rely on grains to make their goods, will likely continue to be hit by higher commodity costs, a J.P. Morgan analyst said this week.

Analyst Pablo Zuanic said Thursday in a note to investors that supplies of corn, rice, wheat and soybeans are already near or below historical levels.

"Assuming historical production growth trends, it is unlikely that supplies will outstrip demand growth," Zuanic said. "So we expect grain prices to remain high."

The note followed a report from the U.S. Department of Agriculture Monday that projected wheat ending stocks would be 30 million bushels lower than expected this year. Meanwhile, the department increased its prediction for overseas demand for wheat.

"Despite record prices, export commitments for U.S. wheat continue to accumulate raising prospects for higher exports of hard red winter, hard red spring, and durum wheat than projected last month," the department said in its March World Agricultural Supply and Demand Estimates report.

The USDA also lowered its projection for soybean ending stocks by 20 million bushels to 40 million, the lowest since the 2003-2004 season. The department also boosted its estimate for soybean exports this year.

Prices for both wheat and soybeans have hit record levels in the past year. Wheat prices have increased due to higher demand overseas and bad weather that damaged the crop in some areas.

Soybean prices are higher mainly due to the alternative fuel ethanol. Demand for corn to make ethanol boosted that grain's prices, enticing farmers to plant corn rather than soybeans. The resulting decline in the supply of soybeans led to higher prices.

For the week, soybeans for May delivery fell 4 percent to close at $13.5275 for the week.

May wheat futures rose nearly 5 percent to close Food companies have already seen those higher prices take a bite out of profits and many have raised retail prices to try to offset the costs.
MGR Archive 16.3.2008
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Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
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