USA: The rice harvest had a good start and sowing is approaching the end

Published 2024년 6월 1일

Tridge summary

Cash offers for the new rice harvest are emerging as old-crop rice is scarce, except in Arkansas. Producer expectations are for prices above $15/cwt. Milled grain exports are delayed due to a saturated Haitian market and financial problems with Iraq. The Brazilian government has announced a tender for 300,000 tons of rice from any source to maintain food security and price stability. Logistical issues and volatility are expected to continue through 2024. Meanwhile, crop progress in the US is good, with 96% of plants planted and 93% emerged. In Asia, Thai prices have declined to $630 pmt, while Vietnam prices remain at $595 pmt. More information about the sale of rice stored for 10 years outside Thailand, particularly to Africa, is emerging. The Rice Market and Technology Convention in Cancún, Mexico, is timely given the current market dynamics.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

(By Dwight Roberts, USRPA) With so little old-crop rice available on the spot market except in Arkansas, cash offers for the new harvest are beginning to emerge. Producer expectations are above $15/cwt at this stage of the game, or at least that is what they are signaling is needed to release any volume. Milled grain exports are significantly delayed as a result of a saturated Haitian market that cannot distribute what it has, and ongoing financial problems with Iraq. US long grain, 5% broken, is holding steady at $800 pmt, now some of the cheapest rice in the Western Hemisphere. Uruguay is at the same level at US$800 pmt, Argentina at US$840 pmt, and Brazil, in total chaos due to recent historic floods and crop losses, is above US$850 pmt. Fresh supplies will be welcome this year, as long as logistics don't degrade further. Earlier this week, the Brazilian government announced a tender for 300,000 tons from any source in the world, in an effort to maintain food security and price ...

Source: Planetaarroz