Going forward, analysts will look to tomorrows USDA export sales numbers for signs of new demand as many believe that it will show another sale to Iran, which is a very unusual destination for U.S. rice exports and should be bullish for U.S. cash prices.
Thailand, Pakistan Rice Sellers Lower Some of Their Quotes; Vietnam, India Rice Sellers Keep Indications on Hold By news desk on January 03,2013 Thai rice sellers lowered their quotes for parboiled rice by about $5 per ton to about $555 - $565 per ton today. Pak rice sellers lowered their quotes for 5% broken rice by about $5 per ton to about $410 - $420 per ton. Viet and Indian rice sellers kept their quotes unchanged. Thai 5% rice is quoted around $545 - $555 per ton, about a $135 per ton premium over Viet 5% rice shown around $410 - $420 per ton. Indian 5% rice is quoted around $430 - $440 per ton, about a $20 per ton premium over Pak 5% rice shown around $410 - $420 per ton, down about $5 per ton from yesterday. Thai 25% rice is quoted about $530 - $540 per ton, about a $155 per ton premium over Viet 25% rice indicated around $375 - $385 per ton. Indian 25% rice is quoted about $385 - $395 per ton, about a $35 per ton premium over Pak 25% rice shown around $350 - $360 per ton. Thai parboiled rice is quoted around $555 - $565 per ton, down about $5 per ton from yesterday. Indian parboiled rice is quoted around $420 - $430 per ton, about a $30 per ton discount to Pak parboiled rice shown around $450 - $460 per ton. Thai broken rice, A1 Super, is quoted about $495 - $505 per ton, about a $150 per ton premium over Viet broken rice shown around $345 - $355 per ton. Indian broken sortexed rice is quoted about $340 - $350 per ton, about $15 per ton premium over Pak broken sortexed rice indicated around $325- $335 per ton.
Oryza Afternoon Recap – Chicago Rough Rice Futures Make Last Minute Recovery to Close Slightly Higher; Beans Continue to Suffer as China Continues to Cancel Orders By news desk on January 03,2013 Chicago rough rice futures for March delivery settled 2.5 cents per cwt (about $1 per ton) higher at $15.060 per cwt (about $332 per ton). Rough rice futures finished the day slightly higher as last minute buying interest lifted prices from a multi-week low, and as the other grains continue to weigh on the market. The late session move appears to have been driven by opportunistic commercial buyers who feel that the recent move to the downside has been overdone in light of tightening U.S. supplies and firm cash offers. The other grains continue to weigh on U.S. rice prices as concerns develop over export demand as China has cancel another contracts for U.S. beans, and as the South American harvest gets underway and early indications are for good yields. Despite surging markets yesterday, outsides turned bearish as a result of the release of the latest FOMC minutes. U.S. grains finished the day mostly lower; soybeans finished the day about 0.4% lower at $13.8650 per bushel; wheat finished nearly unchanged at $7.5550 per bushel; and corn finished the day about 0.2% lower at $6.8925 per bushel. U.S. stocks drifted back into negative territory Thursday following the Federal Reserve's latest meeting minutes and as investors took a pause following the previous session's sharp 2-percent rally, sparked by the "fiscal cliff" deal. The Dow Jones Industrial Average slipped back into the red, after surging more than 300 points in the
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