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AFB Rice Close: Took Dip Despite Firm Demand

AaronT
By AaronT May 15, 2013 15:50

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

 


AaronT
By AaronT May 15, 2013 15:50