The 2018/19 rice crop is reduced 0.7 million cwt to 218.8 million on lower yields. The average yield forecast is lowered 24 pounds per acre to 7,539 pounds. Decreases are in Texas and California.
The long-grain crop is reduced 0.5 million cwt to 159.0 million. Medium- and short-grain production is lowered 0.2 million cwt to 59.8 million. All rice ending stocks are lowered 0.7 million cwt to 44.2 million as no other supply and demand changes are made this month.
The all rice season-average farm price is unchanged at a range of $11.20 to $12.20 per cwt with the midpoint at $11.70.
Foreign rice supplies for 2018/19 are raised 0.9 million tons mainly on increased production. India’s crop is raised 1.0 million tons and Madagascar is raised 0.4 million, both on updated government data. Partly offsetting is a 0.5-million-ton reduction for Egypt on new government policies that restrict rice production.
Rice News on AgFax
Global trade and consumption are only changed fractionally. With supplies rising more than use, global ending stocks are increased 0.8 million tons to 145.2 million.