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AFB Rice Close: Futures Ended Higher And Reclaimed Earlier Declines

AaronT
By AaronT April 20, 2012 14:28

Rice

Rice futures closed higher for the day, but mostly reclaimed yesterday’s decline. Trading is in a consolidation pattern with September finding resistance just above $16. Clearly, there is a concern about the Southern rice acreage, which appears to have contracted, as a result of high fertilizer costs and a good alternative with soybeans or perhaps corn. However, realistically it doesn’t appear that current futures are sustainable. Export demand for the U.S. rice remains poor.

        
         
Long Grain Cash Bid for April 1374/cwt  to – – –
NC 1446/cwt  to – – –

 

Chicago Futures: May 16 1/2 at 1550 1/2
July 16 1/2 at 1576
Sept 17 at 1595 1/2
Nov 14 1/2 at 1616
March ’12 3 1/2 at 1656 1/2
Today’s Arkansas LDP rate for long grain rice is
medium grain rice is

 


AaronT
By AaronT April 20, 2012 14:28

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