Weekly Rice Exports Increase
Net rice sales of 91,300 metric tons (MT) were up noticeably from the previous week and were 49 percent more than the prior four-week average according to U.S. Department of Agriculture Export Sales Highlights report. Increases were reported for Venezuela (28,000 MT), South Korea (18,000 MT), Jordan (10,200 MT), Libya (9,300 MT), and Mexico (8,400 MT). Net sales of 3,000 MT for delivery in the 2012/2013 marketing year were reported for Jordan. Exports of 66,500 MT were 36 percent more than the previous week, but 1 percent less than the prior four-week average. The primary destinations were Mexico (21,100 MT), South Korea (21,000 MT), Libya (9,300 MT), Canada (2,900 MT), and Taiwan (2,400 MT).
The ICE Dec and Mar contracts gave back 160 and 87 points on the week, respectively, as last week’s inversion between the two contracts gave way to partial carry. Well,