Agfax Buzz:
    May 10, 2013
    rice_white_uncooked

    WASDE Rice: Ending U.S. Stocks Down 3%; Global Up 9M Tons

    AgFax.Com - Your Online Ag News Source

    From USDA, World Agricultural Supply and Demand Estimates

    Tighter U.S. 2013/14 all rice supplies, forecast down 6 percent from 2012/13 and lower projected use, down 7 percent from 2012/13 result in ending stocks that are down 3 percent from the previous year. Beginning stocks and production for 2013/14 are both forecast lower from a year ago, while imports are forecast 5 percent larger. U.S. rice production for 2013/14 is projected at 189. 5 million cwt, down 5 percent from 2012/13. Harvested area is estimated at 2.59 million acres based on average harvested-to-planted ratios for the previous 5 years, the lowest area since 1987/88. Average a ll rice yield is projected at 7,317 pounds per acre, down 2 percent from the previous year’s record.

    U.S. 2013/14 all rice total use is projected at a 213.0 million cwt, 7 per cent below the previous year. Domestic and residual use is projected at 115.0 million cwt, 4 percent below 2012/13. All rice exports are projected at 98.0 million cwt, 9 per cent below 2012/13, and the lowest since 2008/09. Long-grain rice exports are projected at 69.0 million, 10 percent below the previous year, and combined medium- and short- grain rice exports at 29.0 million, 7 percent below 2012/13. U.S. long-grain exports will be limited by a tighter U.S. supply situation, and increased competition among t he major South American and Asian exporters. Exports of medium-grain rice will be constrained by tighter U.S. supplies and greater competition from Egypt and Australia. U.S. all rice ending stocks for 2013/14 are projected at 33.1 million cwt, 3 percent below the previous year. Long-grain ending stocks are forecast at 21.9 million cwt, 7 percent above 2012/13, and combined medium- and short- grain rice stocks at 9.0 million, 22 percent below the previous year.

    The U.S. 2013/14 long-grain rice season-average farm price is projected at $13.80 to $14.80 per cwt, compared to a revised $14.20 to $14.60 for the previous year. The combined medium- and short-grain price is projected at $15.50 to $16.50 per cwt, compared to a revised $15.80 to $16.20 for the year earlier. The 2013/14 all rice price is project ed at $14.30 to $15.30 per cwt, compared to a revised $14.70 to $15.10 per cwt for 2012/13. Global 2013/14 total supply and use are each projected to reach record levels at 584.7 and 476.8 million tons, respectively, resulting in a 2.4-million increase in world ending stocks.

    Global 2013/14 rice production is projected at a record 479.3 million tons, up 9.0 million from 2012/13. Record to near-record rice crops are projected in Asia. Record crops are projected for the major exporters including India, Thailand, and Vietnam. Additionally, large crops are forecast for other exporters including Burma, Cambodia, and Egypt. On the importer side, record or near-record crops are forecast for Indonesia, the Philippines, and Sub- Saharan Africa. Global 2013/14 consumption is projected at a record 476.8 million tons, up 1 percent from the previous year.

    Global exports in 2013/14 are projected at 38.9 million tons, up marginally from 2012/13. India and Thailand are forecast to be the largest global rice ex porters in 2013/14 with exports of 8.5 million tons each followed by Vietnam at 7.7 million tons. Large 2013/14 imports are projected for China, the Middle East, and Sub-Saharan Africa with Nigeria the largest in t hat region. China’s imports have surged since 2011/12— forecast to be 2.9 million tons in 2012/13 and 3.0 million in 2013/14—making China the largest global rice importer in 2013/14. China’s annual consumption needs have overtaken production since 2012/13. Strong domestic prices in China have encouraged imports of lower-priced rice fr om Burma, Pakistan, and Vietnam. Global 2013/14 ending stocks are expected to increase 2. 4 million tons to 107.8 million, the largest since 2001/02.

    Complete WASDE pdf REPORT

    Tags: , ,

    Leave a Reply

    Name and Email Address are required fields. Your email will not be published or shared with third parties.

    Agfax Rice News

    Missouri: Crop Budgets For Southeast Counties12-20

    Mississippi Crop Values to Top $7B for 3rd Straight Year12-19

    AFB Rice Close: Strong Gains to End the Week12-19

    Texas Ag Benefits from Normalized U.S.-Cuba Relations, Says Expert12-19

    Louisiana: Rice School Slated Jan. 9 at Abbeville12-19

    Keith Good: New Cuba Policy Could Open Huge Market for U.S. Wheat12-19

    Nitrogen Fertilizer: Oversupply, Geopolitical Risk Overshadow Strong Global Demand – DTN12-18

    AFB Rice Close: Mixed as Consolidation Continues12-18

    China Holds Grain Import Quotas Steady, Revises Application Process – DTN12-18

    Japan Elections Won’t Soften Trade Issues — DTN12-18

    Updated ARC-CO and PLC Payment Indicator for 2014 Crop Year12-18

    U.S. Drought Outlook: Improvement Expected Across California12-18

    Ag Trade Should Benefit from Thaw in U.S.-Cuba Relations12-18

    U.S. Energy: Heating Oil Expenditures Expected to Drop This Winter12-18

    Gasoline Prices: Decline in All Regions12-18

    Propane Stocks: Decrease by 0.8M Barrels12-18

    Diesel Prices: Average Drops 12 Cents12-18

    Keith Good: Viptera Corn Ban Lifted by China; Wheat Prices Soaring12-18

    AFB Rice Close: Higher in Narrow Range12-17

    Senate Passes Tax Extenders Bill with Key Provisions for Ag — DTN12-17

    Keith Good: EPA Moving Ahead with Plans to Finalize Clean Water Rule12-17

    DTN Fertilizer Outlook: Global Phosphorous Demand to Increase12-16

    Keith Good: Ag Industry Preparing to Launch New Biotech Seeds12-16

    Cash Rent Rates Key to Cropland Prices 2015 – DTN12-15

    AFB Rice Close: Higher but Within Friday’s Range12-15

    Drones: FAA Grants Trimble Inc. an Exemption to Use UX5 in Agriculture12-15

    Flint on Crops: Courage, Optimism Drive the Successful Farmer12-15

    Keith Good: U.S. Hay Exports to China Take Hit from GMO Crops Ban12-15

    AFB Rice Close: Futures Explode Upwards12-12

    Rice: California’s Drought Opens Opportunities In The South12-12

    Keith Good: World Cereal Production May Reach Record 2.5B Tonnes12-12

    AFB Rice Close: Futures Look to Re-Test Support12-11

    Keith Good: GMO Labeling Not Favored by Congress, Hearing Indicates12-11