U.S. 2017/18 all rice supplies are lowered 9.5 million cwt to 261.6 million on a production decrease, which is partially offset by slightly higher imports. Long-grain production is lowered 5.6 million cwt and combined medium- short-grain production is lowered 4.1 million cwt.
The production decrease stems from a 123,000 acre reduction in harvested area, reflecting the floods that occurred in Northeast Arkansas and the bootheel of Missouri as well as excessive moisture in California at planting time.
Long-grain beginning stocks are raised 3.8 million cwt on a 2.0-million-cwt decrease in both 2016/17 exports and domestic and residual use, which is partially offset by a 0.2-million-cwt decrease in 2016/17 imports. These revisions are offset by changes to medium- and short-grain leaving all rice 2016/17 ending stocks and total use unchanged.
Total use for 2017/18 is reduced 8.0 million cwt with reductions to both domestic and residual use and exports leaving 2017/18 ending stocks down 1.5 million. By class, long-grain ending stocks are raised 1.2 million cwt and medium- and short-grain ending stocks are lowered 2.7 million.
The 2017/18 all rice season-average farm price is raised $0.80 per cwt at the midpoint to a range of $11.80 to $12.80.
Global rice supplies for 2017/18 are raised 1.9 million tons primarily on increased production for India and Thailand. India production is raised 2.0 million tons to 108.0 million, and Thailand production is raised 0.9 million tons to 20.4 million, both changes are on improved rainfall thus far in the growing season.
The largest production decrease was a 0.3-million-ton reduction for the United States. Foreign exports are raised 0.6 million tons led by increases for India and China. Global use is reduced fractionally and world ending stocks are raised 2.0 million tons to 122.5 million.