Agfax Buzz:

    May 15, 2013

    AFB Rice Close: Took Dip Despite Firm Demand

    AgFax.Com - Your Online Ag News Source

    Closing commodity reports from the Arkansas Farm Bureau Commodity Staff.

    Rice

    Rice futures took another dip despite relatively firm demand and tightening stocks here in the U.S. Planting progress is still behind in Arkansas 60% versus 78%, and Mississippi 22% versus 88%. However, the overall crop stands at 69% versus 74%. The Asian market is another matter with growing stocks and a generally weak market undertone. That factor tends to overhang the futures market despite the relative disassociation seen by the trade.



    Long Grain Cash Bid for May - – -  to - – -
    NC 1419/CWT  to - – -

     

    Chicago Futures: July down 13 1/2 at 1523
    Sept down 20 at 1498 1/2
    Nov down 22 at 1513 1/2
    Jan down 22 at 1531 1/2
    March down 22 at 1531 1/2
    Today’s Arkansas LDP rate for long grain rice is
    medium grain rice is

     

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