Agfax Buzz:

    January 21, 2014

    AFB Rice Close: Prices Move Lower

    AgFax.Com - Your Online Ag News Source

    Closing commodity reports from the Arkansas Farm Bureau Commodity Staff.

    Rice Comment

    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.

    High Low
    Long Grain Cash Bids - – - 1495/cwt
    Long Grain New Crop - – - 1345/cwt

     

    Futures:
    High Low Last Change
    Mar ’14 1560.0 1545.0 1545.0 -15.0
    May ’14 1560.0 1550.5 1549.5 -13.5
    Jul ’14 1531.0 1529.0 1532.5 -11.0
    Sep ’14 1428.5 1415.0 1420.0 -9.0
    Nov ’14 1395.5 -5.5
    Jan ’15 1397.5 -3.5
    Mar ’15 1397.5 -3.5

     

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