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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Surge expected in wheat and corn production
The US Department of Agriculture is predicting more wheat and corn production than previously expected. Its report says that world grain supplies will surge, as countries like China, the US and Ukraine harvest their big crops. The US corn harvest is predicted to be one of the biggest on record, coming close to 2004's massive crop. Leonie O'Driscoll, from grain broker Agfarm, says the surge in production is not good news for Australian wheat growers. "There's also a large forecast of production, not only in the US but right around the world," she says. "Global stocks are ever increasing, which is really bearish for wheat prices. Amid that kind of production futures values will continue to struggle." A Western Australian grains analyst says wheat prices will fall by 10 per cent, or $30 a tonne, this harvest. Tony Smith says the increased supply of grain may take years to recover from. "People I don't think realise that if all the price of wheat has to do in US dollar terms is do what it did last year, and you combine that with an 84-cent dollar, we are looking at cash prices of $30, if not $40, (above) where they are today," he says. Analysts say Australia's grain growers now have falling prices, a high dollar and little prospect of rain to worry about. The outlook for wheat and corn is flat to gloomy, but analysts say soybeans bear the good news. There's a tight supply for oilseeds around the world, and prices will remain strong. Lachie Stevens, with LachStock Trading, says traders will be watching soybeans. "The USDA decreased the production for soybeans and increased demand," he says. "We're looking at a tighter soybean picture, which should remain the same for the next six to 12 months." The USDA report didn't change Australia's wheat crop estimate, which remains at 23 million tonnes. It'll be reviewed later in the year. With a strong corn crop, it's no surprise that discussion about bio-fuels have returned, with the USDA putting ethanol made from corn back in focus. It says ethanol producers are making more money, and there's strong incentives for blending ethanol in the US.
MGR Archive 14.8.2009
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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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