15th August, 2013
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Pakistan 2013-14 Rice Crop Affected by Floods Jordan Rejects India Rice Shipment Over Pest Contamination Vietnam Rice Sellers Lower Some of Their Quotes; India Rice Sellers Increase Some of Their Quotes Brazil Conab Lowers 2012-13 Paddy Rice Production Estimates to 11.86 Million Tons Brazil Rice Stocks Down 33% From Last Year Oryza Rice Currency Analysis for Today – India Rupee Down 0.4%; Brazil Real Down 0.4% Oryza Afternoon Recap – Chicago Rough Rice Futures Rally as Buying Interest Picks up in Afternoon Trading; Grains Turn Positive as Tropical Storm Shifts in Gulf of Mexico Oryza Quick Glance at MDA Rice Crop Weather Update ry- May 2013; Down 2% from Last Year Oryza U.S. Rough Rice Recap – Seller Price Ideas Remain Firm; Buyers Continue to Load Out Receipts Oryza Quick Glance at World News Oryza Global Rice Quotes:August 14th, 2013
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NEWS DETAILS:
Pakistan 2013-14 Rice Crop Affected by Floods Aug 14, 2013 About 5-15% of Pakistan’s Kharif (wet season) rice crop is estimated to be damaged by heavy monsoon rains and release of water into the River Sutlej by India, according to local sources. While most of the damage is seen in the northern parts of the country, more rice area down south may be affected if rains continue in the coming weeks.Officials say that the government target of 6.2 million tons rice production in FY 2013-14 (July – June) may not be met, which may reduce Pakistan’s 2013-14 rice exports below the 3.1 million tons exported in the FY 2012-13. The Basmati Growers Association (BGA) President Hamid Malhi has sought compensation for the rice farmers affected by the floods.Pakistan produced 5.54 million tons of rice in FY 2012-13, down about 20% from the government target of 6.9 million tons due to high production costs and acute power shortage. Tags: Pakistan rice production, Pakistan rice exports
Jordan Rejects India Rice Shipment Over Pest Contamination Aug 14, 2013 Jordan has rejected a rice shipment of around 100 tons from India after samples showed that the shipment contained weevil beetles. Government officials told local sources that the shipment was halted at the Syria border and authorities have returned the shipment to India.Jordan imports around 55,000 tons of mostly basmati rice from India annually. Tags: India rice exports
Vietnam Rice Sellers Lower Some of Their Quotes; India Rice Sellers Increase Some of Their Quotes Aug 14, 2013
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Vietnam rice sellers lowered their quotes for 25% broken rice and 100% broken rice by about $5 per ton each to about $355 - $365 per ton and $340 - $350 per ton respectively today. India rice sellers increased their quotes for 5% broken rice and parboiled rice by about $5 per ton each to about $430 - $440 per ton and $420 – $430 per ton respectively. Thailand rice sellers kept their quotes unchanged. Pakistan rice sellers are out today due to national holiday. 5% Broken Rice Thai 5% rice is quoted around $440 - $450 per ton, about a $50 per ton premium over Viet 5% rice (of summerautumn crop 2013)shown around $390 - $400 per ton. Indian 5% rice is quoted around $430 - $440 per ton, up about $5 per ton from yesterday and about a $10 per ton premium over Pak 5% rice (of new crop) last quoted around $420-$430 per ton. Pak 5% rice of the old crop was last quoted around $455 - $465 per ton. 25% Broken Rice Thai 25% rice is quoted about $425 - $435 per ton, about a $70 per ton premium over Viet 25% rice (of summer-autumn crop 2013) shown around $355 - $365 per ton, down about $5 per ton from yesterday. Indian 25% rice is quoted about $385 - $395 per ton, around $15 per ton premium over Pak 25% rice (of new crop) last quoted around $370-$380 per ton. Pak 25% rice of the old crop was last shown around $390 - $400 per ton. Parboiled Rice Thai parboiled rice is quoted around $500 - $510 per ton. Indian parboiled rice is quoted around $420 - $430 per ton, up about $5 per ton from yesterday and about $10 per ton discount to Pak parboiled rice (of new crop) last quoted around $430 - $440 per ton. Pak parboiled rice quotes of the old crop are unavailable today. 100% Broken Rice Thai broken rice, A1 Super, is quoted around $395 - $405 per ton, about a $55 per ton premium over Viet broken rice (of summer-autumn crop 2013) shown around $340 - $350 per ton, down about $5 per ton from yesterday. Indian broken sortexed rice is quoted about $315 - $325 per ton, about $40 per ton discount to Pak broken sortexed rice (of old crop) last indicated at around $355 - $365 per ton. Pak broken sortexed rice quotes of the new crop are unavailable today.
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Tags: Asia rice quotes, India rice quotes, Thailand rice quotes, Pakistan rice quotes, Vietnam rice quotes
Brazil Conab Lowers 2012-13 Paddy Rice Production Estimates to 11.86 Million Tons Aug 14, 2013 Brazil’s National Grains Supply Company (Conab) has lowered its paddy rice production estimate for 2012-13 to around 11.86 million tons, down slightly from its previous estimate of around 11.92 million tons, but still up about 2% from around 11.59 million tons produced in 2011-12.The downward revision in paddy rice production is mainly due to lower-than-expected production in the North and Northeast regions of Brazil. According to Conab’s July estimates, 2012-13 paddy rice production in the North and Northeast regions are expected to reach around 1.89 million tons, down about 3% from previous estimates of around 1.95 million tons, but still up about 10% from about 1.72 million tons produced in 2011-12. Estimates for paddy rice production in the key rice producing Center-South Brazil remains unchanged at 9.97 million tons, which is up about 1% from around 9.88 million tons in 2011-12. Despite a small decrease in rice area in the North and Northeast regions, Brazil’s 2012-13 rice acreage at around 2.39 million hectares are mostly unchanged from previous estimates, but down about 2% from around 2.43 million hectares in the previous year. Brazil’s 2012-13 rice yield estimates are at around 4.96 tons per hectare, slightly down from around 4.97 tons per hectare estimated earlier, but up about 4% from around 4.78 tons per hectare in 2011-12. Tags: Brazil rice sector
Brazil Rice Stocks Down 33% From Last Year Aug 14, 2013
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Brazil rice stocks as of July 2013 stand at around 1 million tons, almost unchanged from previous month but down about 33% from around 1.56 million tons recorded in July 2012, according to data from the national grain supplying agency Conab.Most of the decline is seen in Federal Government Acquisition (AGF) and with the Selling Option Contract of Agricultural Products (OPCAO). According to Conab, rice stocks with AGF as of July 2013 stand at around 365,317 tons, down about 19% from around 450,745 tons in July 2012, while those with OPCAO declined to around 672,049 tons in July 2013, down about 39% from around 1.1 million tons during the same time last year. The data for rice stocks with farmers (Agriculture Familiar) is unavailable for July 2013, but stood at around 3,942 tons in June 2013, down about 20% compared to year-ago levels of around 4,877 tons in June 2012. Tags: Brazil rice sector
Oryza Rice Currency Analysis for Today – India Rupee Down 0.4%; Brazil Real Down 0.4% Aug 14, 2013 U.S. dollar index was down -0.08% from the open today, when it traded at 81.711 at the close. Euro was -0.03% lower today by the close, trading around 1.3259 by end of day, after trading between an intraday high of 1.3280 and low of 1.3239. The euro was pretty steady today after news broke that the region has pulled out of recession. Thai baht was -0.02% weaker, trading at 31.27 at the close of business. Indian rupee was weaker -0.40% at the close today when it traded at 61.4437. Brazilian real was -0.35% weaker than the open at today’s close, when it ended at 2.3225 reais per dollar. Pakistan rupee was +0.17% stronger at the close, trading at 102.5050. Vietnamese dong was +0.04% stronger, trading at 21093. Mexican peso was -0.06% weaker today, when it traded at 12.7347 pesos per dollar by the close of business today. Chinese yuan was +0.04% stronger, when it traded by close at 6.1195.
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Argentine peso was -0.11% weaker at 5.5676 pesos per dollar. Tags: foreign exchange rates
Oryza Afternoon Recap – Chicago Rough Rice Futures Rally as Buying Interest Picks up in Afternoon Trading; Grains Turn Positive as Tropical Storm Shifts in Gulf of Mexico Aug 14, 2013 Chicago rough rice futures for September delivery settled 20 cents per cwt (about $4 per ton) higher at $15.260 per cwt (about $336 per ton). Rough rice futures confirmed yesterday’s indication that a near-term low had been put in place on Monday and that a reversal is underway. Prices moved higher overnight and continued that trend upon the opening of floor trading in Chicago this morning. The current strength appears to be driven by a supportive fundamental outlook for the US rice as stocks continue to dwindle and as CBOT warehouse receipts outstanding have now fallen below 200. A positive mid-day turn for the other grains likely provided additional fuel to an afternoon rally in the rice market. The other grains finished higher today; soybeans finished the day about 0.9% higher at $12.3900 per bushel; wheat finished about 0.4% higher at $6.3050 per bushel; and corn finished the day about 1.8% higher at $4.5525 per bushel. U.S. stocks added to losses Wednesday afternoon as a lackluster August continued under the cloud of worry that the Federal Reserve will be toning down its stimulus soon. Apple was a standout as some big investors took stakes in the smartphone maker. The Dow Jones Industrial Average slid. The S&P 500 and the Nasdaq both added to losses in afternoon trading. While investors have been anticipating the Federal Reserve will begin unwinding its monthly bond purchases as soon as September, economic data indicated that inflation, at least, is of little concern. Producer prices excluding food and energy rose just 0.1% in July, while including those items put the index at flat. U.S. stock markets are currently trading down about 0.7%, gold is trading about 0.5% lower, crude oil is seen about 0.4% lower, and the U.S. dollar is seen about 0.1% lower at about 1:00pm Chicago time.Looking to the daily continuation chart of Chicago rough rice futures for September delivery, today’s action has confirmed that the market has indeed put in a near-term low of $14.970 per cwt (about $330 per ton on Monday. Despite the current bullish development technical indicators still point to a market that is in a short-term, multi-session downtrend. Prices remain in bearish territory, between the lower Bollinger band and the 20-day moving average, and face nearby resistance around $15.420-$15.450 per cwt (about $340-$341 per ton) a point at which multiple moving averages converge. The fact that the market has continued higher and closed near session highs is seen as providing a positive outlook for tomorrow’s trade direction. Today’s trading range is noted as $15.110-$15.295 per cwt (about $333-$337 per ton).Tuesday, there were 975 contracts traded, down from 1,190 contracts traded
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on Monday. Open interest – the number of contracts outstanding – on Tuesday decreased by 71 contracts to 11,189. Tags: chicago rough rice futures
Oryza Quick Glance at MDA Rice Crop Weather Update Aug 14, 2013
Oryza shares some of MDA’s latest rice crop weather updates: Dry and warm weather conditions in China are adversely affecting rice crop in central and eastern Yangtze Valley and southern North China Plain. Heavy rainfall may occur in South China this week due to Typhoon Utor. Rainfall is expected to continue in northeastern regions of Japan this week. Some rainfall is expected in southwestern parts of the country as well. Rainfall will favor rice crop in northern Thailand this week. Rainfall will favor rice crop in northern and southern Vietnam this week. Rainfall will favor rice crop in Luzon and southern regions of the Philippines this week. Rains will favor rice crop in Indonesia’s central and western Kalimantan, East Malaysia, central Sumatra, Malay Peninsula, and Sulawesi regions this week. Abundant rainfall is expected in Bangladesh this week. Moisture supplies for rice crop remain sufficient due to rains in India. Rainfall is expected in northeastern Pakistan this week. Rainfall will favor rice crop in Nigeria and Cameroon this week.
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Rainfall will favor rice crop in southern regions of the U.S. this week. Rainfall is expected in southern Brazil this week.
For more complete weather information, contact: www.mdaus.com.
Argentina Exports 206,448 Tons of Rice in January- May 2013; Down 2% from Last Year Aug 14, 2013
Argentina has exported about 206,448 tons of rice in January – May 2013, down about 2% from around 252,079 tons of rice exported in the same period in 2012, according to the Ministry of Agriculture.In May 2013,
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Argentina exported a record 46,523 tons of rice, up about 1% from 45,871 tons of rice exported in the previous month, but down about 43% from around 81,773 tons of rice exported in May 2012.Brazil was the top destination for Argentina rice exports in May 2013, accounting for around 33,028 tons. Other major destinations included: Senegal (8,100 tons), Chile (2,680 tons) and Turkey (945 tons). Tags: Argentina rice exports
Oryza U.S. Rough Rice Recap – Seller Price Ideas Remain Firm; Buyers Continue to Load Out Receipts Aug 14, 2013 There was very little trading to report today as buyers continue to load out Chicago Board of Trade warehouse receipts which remain less expensive than old crop at the farm gate. As a result, there were 93 warehouse receipts canceled late last night leaving a total of 162 available on the exchange (14,742 tons). Meanwhile, sellers of new crop continue to keep their price ideas firm, expecting prices to rally into the fall on tighter supplies and a potential for increased export demand, especially if the quality of this year’s crop meets customer expectations in Central America New crop offers were unchanged around $15.56-$16.66 per fob farm (about $343-$367 per ton), depending on where they are located in the U.S. mid-South, while bids from most larger mills and exporters increased to around $14.75 per cwt (about $325 per ton) and $15.10 per cwt (about $333 per ton), respectively, for OctoberNovember-December delivery. Both of these bids however, have had trouble competing with bids from smaller mills said to be as high $15.56 per cwt fob farm (about $343 per ton) for October through December delivery although no trades were reported today. In other news, meteorologists are now forecasting a tropical depression which may hit the U.S. Gulf Coast later this week, potentially slowing down the harvest in South Louisiana and shutting down port activity in New Orleans, Louisiana. Tags: U.S. rice prices
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Oryza Quick Glance at World News Aug 14, 2013 Financial Times *U.K. 10-year borrowing costs have climbed to the highest for two years amid market doubts about whether Mark Carney, the new Bank of England governor, will be able to keep the lid on interest rates until 2016. The yield on 10-year U.K. gilts rose above 2.6% on Tuesday – the highest since October 2011. *Plans to create the world’s largest airline by sales hit a potentially fatal complication on Tuesday when the U.S.’s Department of Justice sued to block the $11 billion merger of U.S. Airways and American Airlines’ bankrupt parent, saying it would push up fares. *David Cameron should avoid promoting women in the forthcoming reshuffle at the expense of more talented or experienced men, one of the U.K. senior ministers, Alan Duncan , has warned. *Online investigators have uncovered a new type of software that is hijacking web users’ visits to the YouTube website and inserting an extra layer of adverts – some of which load malicious programs on to the users’ computers. *Germany and France on Wednesday posted stronger-than-expected growth figures, with Germany recording the strongest economic expansion in over a year and France confirming that it was no longer in recession. Germany’s economy grew 0.7% between April and the end of June while France confirmed that its economy grew 0.5% during second quarter. *Silvio Berlusconi’s centre-right party is launching a nationwide summer campaign in Italy, in an effort to revitalize support for the group and its founder, sentenced for tax fraud by Italy’s Supreme Court earlier this month. *Israel released 26 long-serving Palestinians overnight on Tuesday; a gesture aimed at promoting peace talks due to begin in Jerusalem on Wednesday that caused jubilant celebrations in the West Bank and the Gaza Strip. *The Egyptian security forces moved in early on Wednesday morning to clear two protest camps holding thousands of supporters of Mohamed Morsi, the ousted Islamist president. As police helicopters hovered above, the security forces fired heavy volleys of teargas at the two encampments in separate locations across Cairo.
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Wall Street Journal *More than 350 flights at Hong Kong's airport have been canceled or delayed while schools, banks and the local stock market were shut on Wednesday, as the city braced for the impact of Typhoon Utor. *India's wholesale inflation moved out of the central bank's comfort zone in July, pushed up by higher food prices and a weak rupee and mounting worries in an economy already facing a severe economic slowdown. The wholesale price index, India's main inflation gauge, rose 5.79% from a year earlier, compared with June's 4.86% increase. *The China Automobile Dealers Association has been asked to compile prices for foreign cars sold locally so any overcharging can be exposed, the organization said Wednesday. *Afghanistan President Hamid Karzai has suggested that the man who brought Osama bin Laden to Afghanistan could become the country's next leader, say people familiar with discussions ahead of April's presidential vote. *Prices for goods imported into the U.S. rose for the first time in five months in July, though the gain was almost entirely due to fuel costs, signaling that overall inflationary pressures remain tame. A U.S. Labor Department report Tuesday showed that U.S. import prices rose 0.2% from the prior month. *Venezuelan President Nicolás Maduro took a page from his predecessor's playbook, saying he would seek fast-track legislative powers to let him enact laws by decree without the parliament, to aid his government's fight against corruption. *The Mexican government's plan to overhaul the energy sector has put a spotlight on oil and gas, but the proposal also aims to revamp another area with potential for big investment: electricity. *The Indian government Tuesday raised the import tax on gold to 10% from 8% and silver to 10% from 6% in a bid to stem the tide of dollars flowing out of the country, but the move is unlikely to dent strong demand for the precious metals during the festival season. New York Times *Nearly two weeks after Syria said it would allow U.N. experts to investigate three sites where chemical weapons may have been used in that country’s civil war, their visit has been further delayed because an agreement has yet to be reached with Syria on measures to ensure their safety, Secretary General Ban Kimoon’s office reported on Tuesday. *An American tour operator imprisoned in North Korea on charges of plotting to harm the socialist country through Christian missionary activities has appealed to Washington to send a high-ranking official to North Korea to help free him, according to a videotaped interview made public on Tuesday.
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*Indonesia's anti-graft agency has arrested the head of the country's oil and gas regulator for allegedly receiving bribes from a private oil company. Corruption Eradication Commission spokesman Johan Budi says the agency confiscated $400,000 in cash Tuesday and arrested an unidentified man handing it over at the home of Rudi Rubiandini, chair of the Special Task Force for Upstream Oil and Gas Business. *Eighteen Indian sailors were trapped and some were killed after an explosion and fire on a diesel-powered submarine berthed at a base in Mumbai on Wednesday, souring a week of naval milestones, including the launch of a locally built aircraft carrier. *Central banks should tackle financial imbalances even if it means sacrificing some economic growth, the Reserve Bank of India deputy governor Anand Sinha said in a speech on Wednesday. *Miner and trader Glencore Xstrata reported copper production increased by a fifth in the first six months of 2013, driven by the ramp-up of mines replacing depleted operations and a stronger performance in Congo. Tags: World news
Oryza Global Rice Quotes :August 14th, 2013
Long grain white rice - high quality Thailand 100% B grade Vietnam 5% broken India 5% broken Pakistan 5% broken U.S. 4% broken Uruguay 5% broken Argentina 5% broken
450-460 390-400 430-440 420-430 600-610 615-625 615-625
↔ ↔ ↑ ↔ ↔ ↔ ↔
Long grain parboiled rice Thailand parboiled 100% stxd Pakistan parboiled 5% broken stxd
500-510
↔
430-440
↔
India parboiled 5% broken stxd U.S. parboiled 4% broken
420-430 645-655
↑ ↔
Long grain white rice - low quality Thailand 25% broken Vietnam 25% broken Pakistan 25% broken India 25% broken U.S. Calrose 4% broken
425-435 355-365 370-380 385-395 570-580
Brokens Thailand A1 Super 395-405 Vietnam 100% broken Pakistan 100% broken stxd India 100% Broken stxd
↔ ↓ ↔ ↔ ↔
↔
340-350
↓
355-365 310-320
↔ ↔
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Brazil parboiled 5% broken Uruguay parboiled 5% broken
605-615 NQ
↔ ↔
Long grain fragrant rice Thailand Hommali 92% Vietnam Jasmine India basmati 2% broken Pakistan basmati 2% broken
1095-1105 540-550 1515 -1525 NQ
Egypt medium grain brokens U.S. pet food Brazil half grain
NQ 335-345 355-365
↔ ↔ ↔
685-695 NQ
↔ ↔
Medium grain milled ↔ U.S. Calrose 4% broken ↔ Egypt medium grain 6% ↔ ↔
All prices USD per ton, FOB vessel, oryza.com
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