AFB Rice Close: Prices Move Lower
Rice prices were also lower. Carryover weakness from other markets was a factor today. While U.S. demand for rice remains good, large global supplies and increased export competition are limiting U.S. export opportunities. With news that the Thailand government is selling rice at a loss, look for U.S. exports to remain suppressed. Resistance for March is last week’s spike high of $15.74. Support begins at $15.36.
|Long Grain Cash Bids||– – –||1495/cwt|
|Long Grain New Crop||– – –||1345/cwt|
By the time this year’s fall-born calves are being weaned, the cattle industry will be looking at prices 5% to 15% lower than they are today — think somewhere between