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 Golf and future markets
Probably the biggest and most painful news in the market is the rather dramatic correction in the futures market after a moderate rebound off a previous low (down 71-75 cents since last report). Good to excellent growing conditions reported for almost 80% of what appears to be easily the biggest crop in history, along with a below average export sales report brought pressure to bear on the new crop contracts. In the meantime, offshore demand for milled rice remains rather glib. However, paddy exports continue to be the bright spot in the market as their monthly movement remains steady to Latin America and Mexico.
Prices are bit softer, as mills try to fill in voids in their schedules. #2-4% is quoted at levels that reflect $470-475 per mt bagged FOB vessel, or $440-450 basis bulk. The long grain barge market is bid at $0.40-0.50 over CBOT loaded upriver versus offers at least $0.50-0.75 higher. This reflects real numbers of around $270/285 (respectively) per mt bulk FOB NOLA. The M/G market is completely dormant in the South as stocks are virtually gone and demand absent the market for all practical purposes...with the possible exception of something that could reach the Mediterranean before the end of July in advance of Ramadan...this window of opportunity has practically closed.
As iterated in our report last week, Iraq went for price and bought all Asian rice. We do anticipate another tender in the next couple of weeks, and as U.S. prices continue to decline and close the gap with Thai (and Viet), our chances become greatly enhanced.
Otherwise, the market is quiet and the undertone quite soft as we approach new crop.

MGR Archive 16.6.2010
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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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