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Agfax Buzz:

    April 2, 2012

    AFB Rice Close: Futures Turn Higher

    AgFax.Com - Your Online Ag News Source

    Closing commodity reports from the Arkansas Farm Bureau Commodity Staff.

    Rice Comment
    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
    July up 12 at 1515 1/2
    Sept up 11 at 1538
    Nov up 8 at 1560
    March ’12 unchanged at 1600

    Today’s Arkansas LDP rate for long grain rice is

    		 0¢

    medium grain rice is

    		 0¢

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