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|
This week’s edition of AgFax Weekend has news links about crop insurance kicking in for cheap corn; talk about the bin buster harvest expected; 4 ways to use drones on