AFB Rice Close: Futures Turn Higher
Rice futures turned higher. USDA says 2.561 million acres of rice will be planted this year, down from 2.689 million last year. However, long grain acreage is expected to top last year’s acreage at 1.864 million acres. Declining production should provide underlying support for the market. At the same time, poor export movement keeps everything in touch with reality.
|Long Grain Cash Bid for||March||1309/cwt||to||– – –|
|NC||1382/cwt||to||– – –|
|Chicago Futures:||May||up||12||at||1488 1/2|
Today’s Arkansas LDP rate for long grain rice is
medium grain rice is