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AFB Rice Close: Futures End Mixed

Ernst Undesser
By Ernst Undesser April 24, 2012

Rice Comment
Rice futures ended mixed. USDA says the crop is 65% seeded well ahead of the 5 year average of 45%. Clearly, there is a concern about the Southern rice acreage, which appears to have contracted, as a result of high fertilizer costs and competition for acreage from 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 1387/cwt  to – – –
NC 5961/cwt  to – – –

 

Chicago Futures: May down 1/2 at 1566 1/2
July down 1/2 at 1592 1/2
Sept down 1/2 at 1611
Nov unchanged – – – at 16325
March ’12 up 5 1/2 at 1675

Today’s Arkansas LDP rate for long grain rice is

medium grain rice is


Ernst Undesser
By Ernst Undesser April 24, 2012