WASDE: Rice Price Projections Lowered

June 11, 2014 06:05 AM
 

Rice supply and use 2014/15 balance sheets are changed little from last month. All rice beginning stocks for 2014/15 are raised 3.0 million cwt, long-grain rice stocks are raised 2.0 million, and combined medium- and short-grain stocks are up 1.0 million.

The 2014/15 beginning stocks changes flow through the balance sheets to 2014/15 ending stocks. All rice 2014/15 ending stocks are raised 3.0 million cwt to 37.3 million—the largest stocks since 2011/12. Long-grain ending stocks are raised 2.0 million cwt to 26.3 million—the largest since 2010/11. Combined medium- and short-grain ending stocks are raised 1.0 million cwt to 8.7 million.

All rice 2013/14 exports are lowered 3.0 million cwt to 92.0 million, long-grain exports are lowered 2.0 million to 62.0 million, and combined medium- and short-grain rice exports are lowered 1.0 million to 30.0 million. Rough rice exports and milled rice exports for 2013/14 are each lowered 1.5 million cwt to 31.5 million and 60.5 million (rough-equivalent basis), respectively. U.S. exports and export commitments to Central America, Africa, Venezuela, and Northeast Asia are lagging through May compared to a year ago.

The 2014/15 U.S. long-grain rice season-average farm price is projected at $12.80 to $13.80 per cwt, down 70 cents per cwt on each end from a month ago and compares to a revised $15.10 to $15.70 per cwt for 2013/14.

The 2014/15 combined medium- and short-grain rice season-average farm price is $18.20 to $19.20 per cwt, a decrease of 30 cents per cwt on each end from last month and compares to a revised $17.40 to $18.00 per cwt for 2013/14. The 2014/15 U.S. all rice season-average farm price is projected at $14.40 to $15.40 per cwt, down 60 cents per cwt on each end from a month ago and compares to a revised $15.70 to $16.30 per cwt for 2013/14.

Global 2014/15 rice supply and use is little changed from a month ago. Global rice production is projected at a record 480.7 million tons, unchanged from a month ago. Global 2014/15 trade (imports and exports) are unchanged from a month ago.

Global 2014/15 consumption is lowered slightly from last month. Ending stocks for 2014/15 are raised 0.9 million tons due mostly to an increase for India. Rice production for 2013/14 in India is raised 1.3 million tons to a record 106.3 million tons based on official statistics from the government of India.

..................................
 
Complete Coverage of June 11 9 USDA Reports
See the data, read the biggest news and listen to analysis of today's collection of major USDA reports.
 

Back to news


 

RELATED CONTENT

Comments

 
Spell Check

No comments have been posted to this News Article

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by QTInfo.com
Brought to you by Beyer
Close