International Rice Exports: Sales Mixed, Exports Increase
Net rice sales of 38,300 MT for the 2012/2013 were down 53 percent from the previous week and 39 percent from the prior four-week average according to today’s Export Sales Highlights report. Increases were reported for South Korea (14,600 MT), Guatemala (9,100 MT, including 8,500 MT switched from unknown destinations), Haiti (7,500 MT), El Salvador (5,000 MT), and Mexico (4,400 MT).
Decreases were reported for unknown destinations (8,500 MT). Exports of 114,200 MT were up 4 percent from the previous week and 34 percent from the prior four-week average. The primary destinations were to Mexico (38,100 MT), Japan (25,400 MT), Ghana (9,800 MT), Guatemala (9,100 MT), and Honduras (8,800 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,