WASDE: Domestic Rice Supplies Drop Due to Long-Grain Imports

April 12, 2016 11:08 AM
 
WASDE: Domestic Rice Supplies Drop Due to Long-Grain Imports

U.S. 2015/16 rice supplies are lowered 0.5 million cwt on lower long-grain imports. Long-grain ending stocks are lowered 0.5 million cwt to 22.5 million. All rice ending stocks are now 43.4 million cwt. The all rice and long-grain season-average prices are each lowered $0.30 per cwt at the midpoint to $12.30 to $12.70 and $10.80 to $11.20, respectively. Medium- and short-grain prices are also down with the California price lowered $0.50 per cwt at the midpoint and the Other States price lowered $0.20 per cwt at the midpoint.

Global rice supplies for 2015/16 are lowered 0.5 million tons, primarily on reduced production. Brazil and Pakistan production are lowered 0.3 million tons and 0.2 million tons, respectively, both on updated government statistics. Global trade and domestic use projections are both lowered fractionally. Global ending stocks are lowered 0.3 million tons to 90.2 million. 

Read the full report here.

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