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Internaional & Local Rice News News Highlights: Hybrid Seeds Can Increase India Rice Production by 20%, Says Study Bangladesh Domestic Paddy Rice Prices Drop 7% Year-on-Year Vietnam Loads 73,000 Tons to Cuba; 34,500 Tons to Africa; Loading 115,000 Tons to Indonesia, 352,00 Tons to Malaysia
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Thailand, Vietnam Rice Sellers Increase Some of Their Quotes; India, Pakistan Rice Sellers Keep Indications on Hold Thailand Rice Exports May Decline in 2013 Due to Higher Labor Costs, Stronger Baht USDA Post Increases India 2012-13 Rice Export Forecast 10% to 8 Million Tons U.S. Rice Market Looking For More Sales to Iran Water Supply Likely Cut-off for U.S. Texas Rice Farmers for Second Consecutive Year A Quick Glance at World News - What the Financial Times, Wall Street Journal and New York Times Are Reporting Today Oryza Rice Recap – All Eyes on China Rice Demand for 2013; The Next Shoe to Drop? Analysts Warn Emerging Markets Will Suffer Destruction That Will Rival the 2008 Market Crash in Developed Economies Oryza Afternoon Recap – Chicago Rough Rice Futures Mark Slight Gains, Trading Volume Depressed Ahead of USDA S&D Update Oryza Rice Currency Analysis for Today – Mexico Peso Rallies 0.62%; Euro Investors Await Tomorrow's ECB Rate Announcement Oryza Overnight Recap – Chicago Rough Rice Futures Slightly Higher as Possible Chinese Bean Sales Support U.S. Grains
Hybrid Seeds Can Increase India Rice Production by 20%, Says Study By news desk on January 09,2013
India‟s rice production could increase by up to 15-20% or to around 120 million tons annually if more farmers in the country shift to growing hybrid rice, according to a study by the Netherlands-based Rabobank.China is the world‟s largest producer of rice and India the second. However, China produces about 143 million tons of rice annually from about 30 million hectares under rice cultivation, while India‟s 43 million hectares produce only about 100 million tons of rice per year. The gap clearly lies in the higher yield and use of hybrid rice, in which China is miles ahead of India. According to Rabobank, the area under hybrid rice cultivation in China stands at around 50% or about 15 million hectares of the total rice acreage in the country, compared to about just 3-5% or about 2 million hectares of total area under rice cultivation in India. However, popularity of hybrid rice is growing significantly among rice farmers in India, with hybrid rice acreage surging almost 58% in the last three years from 1.285 million hectares in 2008-09 to an estimated 2.030 million hectares in 2011-12. The Rabobank study added that the low use of hybrid seeds in rice cultivation in India presents an opportunity for large multinational seed companies and advised such companies to continue acquiring local seed companies with a good local germplasm base to increase the popularity of hybrid rice cultivation in the country.
Bangladesh Domestic Paddy Rice Prices Drop 7% Year-on-Year By news desk on January 09,2013
Domestic paddy rice prices in Bangladesh declined to Tk 32 per kilogram (about $395 per ton) on December 31, 2012, down about 7% year-on-year, according to the Trading Corporation of Bangladesh (TCB).
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According to the UN‟s Food and Agriculture Organization (FAO), Bangladesh‟s 2012 paddy rice production is estimated to reach 51.3 million tons (about 34.2 million tons, basis milled), up about 1.2% from around 50.7 million tons of paddy (about 33.8 million tons, basis milled) produced in 2011.
As a result of consecutive good harvests, improved public rice distribution and availability of cheaper Indian rice across the border, prices of the grain remained suppressed at about Tk 28 to Tk 29 per kilogram (about $345 to $360 per ton) in the last half of 2012. However, local farmers say that traders buy paddy from them at much lower prices than the market price and the government support price of Tk 28 per kilogram (about $345 per ton). Low prices have caused much distress to rice farmers in the country, with many of them considering switch to other crops to avoid loss and for better returns. The government allowed exports of aromatic rice in May last year to make space for new arrivals of rice. The government plans to allow exports of a small quantity of non-aromatic rice soon to help improve rice prices.
Vietnam Loads 73,000 Tons to Cuba; 34,500 Tons to Africa; Loading 115,000 Tons to Indonesia, 352,00 Tons to Malaysia By news desk on January 09,2013
Loading of Vietnam rice consignments headed mostly to Africa of about 107,500 tons was completed during December 20 - 30, 2012, while loading of about 322,500 tons of rice to mostly Indonesia and Malaysia have begun on January 1 at the Saigon Port, in Ho Chi Minh City, according to shipping industry sources in Vietnam. Details of loading follow: Loaded – About 73,000 tons headed to Cuba, while another 34,500 tons are headed to other African destinations. Loading – About 115,100 tons of rice are headed to Indonesia, while another 35,200 tons are headed to Malaysia.
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Thailand, Vietnam Rice Sellers Increase Some of Their Quotes; India, Pakistan Rice Sellers Keep Indications on Hold By news desk on January 09,2013
Thai rice sellers increased their quotes for parboiled rice by about $5 per ton to about $565 - $575 per ton today. Viet rice sellers increased their quotes for broken rice by about $5 per ton to about $350 - $360 per ton. Indian and Pak 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. 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 $565 - $575 per ton, up 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 $515 - $525 per ton, about a $165 per ton premium over Viet broken rice shown around $350 - $360 per ton, up about $5 per ton from yesterday. Indian broken sortexed rice is quoted about $340 - $350 per ton, about $10 per ton premium over Pak broken sortexed rice indicated around $330- $340 per ton.
Thailand Rice Exports May Decline in 2013 Due to Higher Labor Costs, Stronger Baht By news desk on January 09,2013
The price competitiveness of Thai rice is likely to further decline in 2013 due to the government‟s decision to hike daily minimum wage to 300 baht (about $9.8), according to the opposition party and other experts. In 2012, Thailand‟s total rice exports declined about 39% to around 6.9 million tons, mainly due to high prices of Thai rice driven by the government rice mortgage program. Protesting the minimum wage hike that is in effect from January 1, a Democratic Party leader said that Thailand lost its status as the world‟s largest rice exporter in 2012 due to the government‟s populist rice mortgage program. Now, the sudden hike in minimum wages across the nation will increase production costs, besides causing shortage of labor in the villages, he said. The director of the Center for International Trade Studies at the University of the Thai Chamber of Commerce (UTCC) said that Thai rice exports will be the worst hit by the hike in minimum wage. He added that the anticipated baht gains this year will also dissuade buyers from importing rice from Thailand.
USDA Post Increases India 2012-13 Rice Export Forecast 10% to 8 Million Tons By news desk on January 09,2013
The USDA Post in India says in its latest report that India‟s rice exports in the marketing year 2012-13 (May to April) is likely to reach 8 million tons, up about 10% from the USDA official estimates of around 7.2 million tons.
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Higher rice exports will be driven by strong export demand and relatively competitive prices this year. The Post said that despite the recent hike in domestic prices of basmati rice, demand remains steady. "Exports of Indian non-basmati rice remain very price competitive and export prospects for Indian raw rice are likely to improve in the next few months as supplies from other countries become tighter," the Post added. The Post retained official estimates of 99 million tons for rice production in 2012-13, but reduced the forecast for rice consumption in India in 2012-13 from USDA official estimates of around 95.2 million tons to around 94.6 million tons. Last year, India became the worldâ€&#x;s largest rice exporter for the first time in recorded history, helped by consecutive bumper harvests and a huge surplus accumulated due to three-year ban on rice exports. The country exported around 10.4 million tons of rice (including 3.48 million tons basmati, and 6.9 million tons nonbasmati) in 2011-12. However, Indiaâ€&#x;s rice exports are likely to drop about 20-30% in 2013 due to higher domestic prices and higher supplies in the international market.
U.S. Rice Market Looking For More Sales to Iran By Oryza News on January 09,2013
U.S. cash rice market activity remains limited as cash prices hold steady going into Fridays USDA reports. This will be the first time that the USDA will release both the WASDE report and the Rice Stocks report at 11:00 a.m. Central time as compared to the normal 7:30 a.m. Central time release, which has some analysts concerned about how this will affect futures trades and cash activity although others believe that the impact will be limited. As of now, most market participants are well aware of the recent long grain milled rice cargo (#2-4%) that traded to Iran a couple weeks back and many analysts believe that there could be at 1 or more cargoes in the works. If this is the case, we could see domestic prices steadily increase, especially if Colombia buys another cargo from the U.S. as many suspect that they will do during the first half of 2013 however the big question remains: How will the recently signed trade agreement between Vietnam and Haiti impact U.S. rice exports to Haiti? As of today, most offers from farmers held steady near $15.00 per cwt (about $331 per ton) for JanuaryFebruary-March delivery for 50 lbs of head rice while offers from resellers were unchanged at slightly more attractive levels which generated limited buying interest. Meanwhile, bids from most mills and exporters could be found around $14.45 per cwt (about $319 per ton) for the same delivery period, however it was reported that buyers were willing to pay as much as $15.00 per cwt (about $331 per ton) for prompt delivery of high milling rice. Going forward, analysts will look at tomorrow export sales numbers to see if their suspicions were indeed correct; that the U.S. sold more than 1 cargo of long grain milled rice to Iran
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Water Supply Likely Cut-off for U.S. Texas Rice Farmers for Second Consecutive Year By news desk on January 09,2013
Water supply for rice cultivation for farmers in the Texas state of the U.S. is likely to be cut-off for the second year in a row, to ensure sufficient water
supply for the residents of Austin amidst a prolonged drought that is threatening to become the worst in the region‟s history. After a board meeting yesterday, the Lower Colorado River Authority (LCRA) said that water from the Highland Lakes should be withheld from most farmers this year if water storage in the two reservoirs by March 1, 2013 is below 850,000 acre-feet, or about 42% of the total capacity, which is the same yardstick used to withhold water supply to Texas rice farmers last year. “We‟re in the middle of a drought that could end up being the worst in recorded history,” said LCRA General Manager Becky Motal. “This drought has been painful for everyone, but LCRA is committed to protecting the water supply of the City of Austin and the other communities and major industries throughout the basin.” Several rice farmers in the region see the decision as a devastating blow to their livelihoods and future, despite having the first right on water from the reservoirs. The LCRA board said it understands the distress the move is likely to cause to rice farmers in the region, but a strict adherence to the 2010 water management plan could lead to release of water for the first crop of 2013, but it could be cut off before the crop is complete. This would be disastrous to farmers and wastage of water already used for irrigation, said LCRA. “LCRA must continue to make difficult decisions to responsibly manage the water supply during this painful time,” Motal said.
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A Quick Glance at World News - What the Financial Times, Wall Street Journal and New York Times Are Reporting Today By news desk on January 09,2013
Financial Times – *The U.S. Energy Information Administration predicted that net imports of liquid fuels, including crude oil and petroleum products, would fall to about 6m barrels per day in 2014, their lowest level since 1987 and only about half their peak levels of more than 12 million during 2004-07. *Hugo Chavez will not be attending the inauguration of his third term as Venezuela‟s president on Thursday, according to officials, clearing the way for a constitutional showdown with opponents. *Alcoa, the aluminum producer, expects global demand for the metal to grow 7% this year, representing only a modest pick-up from last year‟s rise of 6%. *Wesley Wang, a former analyst for the $14 billion hedge fund SAC Capital, has named 20 people who traded on inside information, including some subjects of the U.S. government‟s wide-ranging investigation who are yet to be charged, according to prosecutors. *AIG, the U.S. insurer, which received the biggest of all the government bailouts during the financial crisis, may sue the U.S. government over the terms of the deal. On Wednesday, the company‟s board will consider joining a lawsuit launched in 2011 by Hank Greenberg, AIG‟s former chief executive, which demands $25 billion in compensation for the dilution inflicted on shareholders when the Federal Reserve Bank of New York took a 79.9% stake in return for $182 billion in loans and guarantees. *The Obama administration is considering leaving no U.S. troops in Afghanistan after 2014 when the current mission is due to end, White House officials said on Tuesday. *Eurozone total unemployment hit a fresh record of 11.8% in November; official statistics showed on Tuesday, highlighting the dire state of the bloc‟s economy in spite of hopes for a gradual recovery this year. *Nuclear experts in the U.S. and Middle East have raised concerns about the security of up to 50 tons of unenriched uranium in Syria amid fears that civil war could put the stockpile at risk. Wall Street Journal *KKR & Co. has agreed to invest $200 million in Vietnamese sauce maker Masan Consumer Corp., marking the largest investment to date in Vietnam by a private-equity firm. *A German bank, DVB Bank SE, gave up plans to raise $500 million in the U.S. bond markets Tuesday, a sharp contrast to the recent investor clamor for corporate debt and a rare case of an announced offering being pulled. *Merger-and-acquisition activity will likely strengthen in Australian, Investment bankers said, as resurgence in commodity prices prompts new interest in Australian resource assets. The domestic stock market, which rose to a 19-month high of 4750.70 on Monday but slipped back to 4690.20 on Tuesday, could break 5000 this year, sparking a revival in IPOs, especially in resources and real estate, they added. *On the heels of Google Inc.'s agreement with U.S. regulators to limit how it can wield its technology patents, the Internet search company dropped a pending patent claim against Microsoft Corp. *Australian authorities downgraded the wildfire threat posed by extreme heat conditions across the country Wednesday as cooling temperatures allowed emergency services to bring a string of blazes under control. Emergency alerts remain for five locations across New South Wales, Australia's most populous state and fires
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continued to burn in Victoria, Tasmania and in the Australian Capital Territory, where the federal government is based. *Ireland is still paying too much for borrowing in the bond markets in light of its tough clampdown on budgets, the head of its central bank said Tuesday, as the country sought investors for its first bank-run bond since the 2010 bailout. *Spain announced plans on Tuesday to issue a record amount of government bonds (worth about €121.3 billion or $158.53 billion) this year, kicking off Thursday with an auction that investors and analysts say will likely benefit from a recently improved market appetite for riskier euro-zone debt. *Poland‟s monetary policy council is widely expected to cut the benchmark rate by 0.25% to 4.0% on Wednesday in order to give the slowing economy a boost, but markets and analysts have already set their sights on deeper easing in coming months. New York Times*India slammed archrival Pakistan on Wednesday over a firefight in the disputed territory of Kashmir in which two of its soldiers were killed, and said the mutilation of one of the bodies was "inhuman.” *The Japanese Foreign Ministry summoned China‟s ambassador on Tuesday after Chinese ships entered Japanese-controlled waters for 13 hours, a prolonged incursion that seemed to escalate a standoff over a group of disputed islands. *Colombia‟s chief prosecutor‟s office has opened a preliminary criminal investigation into former President Álvaro Uribe over allegations he sponsored a deadly far-right militia as a regional governor in the 1990s. *China's securities regulator is requiring underwriters and auditors of all applicants for domestic initial public offerings to re-examine their financial statements as part of efforts to boost the quality of listed companies, four sources with knowledge of the plan told Reuters on Wednesday. *U.K. business leaders, including Virgin Group founder Richard Branson and WPP chief executive Martin Sorrell, warned Prime Minister David Cameron in a letter to the Financial Times on Wednesday that he risks hurting Britain's businesses if he proposes to exit the E.U. *Apple Inc's Chief Executive Tim Cook is meeting with partners and government officials in China on his second visit to the firm's second-largest market in less than a year. *The Chinese company, Hanergy Group's, that bought Miasole, a California producer of thin-film solar panels, says it can make a success of the emerging technology where others have suffered huge losses.
Oryza Rice Recap – All Eyes on China Rice Demand for 2013; The Next Shoe to Drop? Analysts Warn Emerging Markets Will Suffer Destruction That Will Rival the 2008 Market Crash in Developed Economies By Oryza News on January 09,2013
Global rice quotes were mostly unchanged today and most Asia origins remain at a steep discount to U.S. and South American quotes. Asia has „suffered‟ a supply overhang for years thanks to bumper crops and Thailand‟s hopes to inflate rice prices were somewhat thwarted with India‟s return to the non-basmati rice export market. Meanwhile, the U.S. and South America have
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seen rice prices supported by restricted production has rice fights for acreage with soy. Firm soy prices this summer and autumn were leading some rice farmers to say they would cut back on rice acreage as prices, while supportive, were still low compared to soy. However, soy futures prices have declined about 20% since peaking this past autumn meaning rice acreage in the U.S. and South America may not be reduced this coming crop year as much as previously thought. Meanwhile, as the Americas are potentially facing improved rice production, reducing bullish support for rice prices, Asia‟s luck luster market may finally rebound – not due to a crop failure in India or the Thailand rice scheme, but perhaps from increased import demand from China. FAO economist Conception Calpe says that China‟s rice stocks, consisting of about half the world‟s rice stocks, may be lower than has been estimated. She concedes that this data is difficult to verify in China and in developed countries including Japan and Europe and less than 10 countries, including the Philippines and the U.S., have “serious” surveys to record rice stocks. The above graph with data estimated by USDA, shows rising year-end global rice stocks over the last decade thanks mostly to rising stocks in China, India, and Thailand (the list of countries are those with estimated rice stocks of half a million tons or higher while the world total includes these and all other countries as well). With China consisting of such a huge percentage of world rice stocks, a change to China‟s estimated balance sheet would have major global implications. A small percentage swing in China‟s rice imports ripples out to a huge percentage change in global rice import demand. This would be welcome news to exporting origins including the U.S. which has longed hope of shipping rice to China. While rice quotes show potential for perking up on Chinese demand, the international economy could face challenges if emerging markets – a rising and relatively steady source of global demand throughout the 2008 economic crisis – stumble. Business Insider argues that emerging markets are a bubble originating over a decade ago when China entered the World Trade Organization (WTO). China‟s manufacturing growth and India‟s offshoring and information technology (IT) boom spurred rapid economic growth and urbanization. This lead to increased commodities demand from resource-rich nations like Brazil and Russia, spurring economic growth there and leading to what Goldman Sachs economist Jim O‟Neill termed the „BRICs‟ (Brazil, Russia, India, and China). Then, this economic growth rippled out to other emerging nations like Indonesia and South Africa and acted a sort of backstop against faltering demand from within the Eurozone. Since the mid-2000s, and even more following the implosion of developed economies in 2008, emerging markets have enjoyed an influx of investment. This investment was made more easily thanks to increased liquidity provided by lose monetary policy in the U.S., UK, Europe, China, and Japan. Brazil last year “suffered” so much foreign investment its currency rallied, threatening to strangle its export-based economy (a higher Brazilian real would make the price of Brazilian goods more expensive on global markets). China has long been called a bubble for several years and in 2011 the IMF warned of “signs of overheating” for global emerging markets. With emerging markets running so hot for so long – exporting and consuming rising amounts of commodities – commodity-heavy developed economies are now also at risk of overheating. Economists see the potential for property bubbles to burst in Australia, Canada, and parts of Northern and Western Europe. Other developing nations across the world are also projected to be suffering from property bubbles that could burst including across much of Asia and parts of South America. Besides bank financing, the “shadow banking system” continues to grow throughout the world, making monitoring the
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value of collateral against the size of debt outstanding very difficult. This means there may be even more dominoes ready to fall than we realize. The Business Insider predicts: Emerging market economies and investment assets are experiencing a bubble of enormous proportions as their investors and consumers make the very same mistakes that the West made just a few short years ago. The Emerging Markets Bubble will pop when the bubbles in China and commodities prices pop and may lead to a crisis like the 1997 Asian financial crisis in the best-case scenario and a global depression in the worst-case, but highly likely scenario. Singapore and Hong Kong, with their finance and real estate-heavy island economies, may experience a similar fate to Iceland and Ireland in the 2008 financial meltdown.This time isn‟t different.
Oryza Afternoon Recap – Chicago Rough Rice Futures Mark Slight Gains, Trading Volume Depressed Ahead of USDA S&D Update By Oryza News on January 09,2013
Chicago rough rice futures for March delivery settled 3 cents per cwt (about $1 per ton) higher at $15.235 per cwt (about $336 per ton). Rough rice futures remain lifeless, finishing the day with modest gains after another session of vastly reduced trade volume. Outside markets provided little directional support as U.S. grains finished almost unchanged as flat oil prices failed to prop up commodities prices. Market participants appear to feel well positioned ahead of Friday‟s WASDE update and expectations are for another day of quiet trading tomorrow and Friday morning ahead of the reports release. U.S. grains finished mostly lower today; soybeans finished the day about 0.1% lower at $13.8550 per bushel; wheat finished down about 0.7% at $7.4550 per bushel; and corn finished the day about 0.8% higher at $6.9425 per bushel. U.S. were modestly higher across the board Wednesday, lifted by industrials, after Dow component Alcoa kicked off the fourth-quarter earnings season on a positive note. The Dow Jones Industrial Average was higher after sliding in the last two sessions. The S&P 500 and the Nasdaq also advanced. Among key S&P sectors, health care and industrials gained, while energy declined. U.S. stock markets are currently trading about 0.3% higher, Gold is trading down about 0.6%, crude oil is currently trading unchanged on the day, and the U.S. dollar is trading about 0.3% higher at about 2:00pm Chicago time. Looking to the daily continuation chart of Chicago rough rice futures for March delivery, there was little action to be noted today. Despite a higher close the market failed to break through yesterday‟s high of $15.285 per cwt (about $337 per ton). Although the market was able to close above nearby support around $15.200 per cwt (about $335 per ton), the bears were able to drag prices below yesterday‟s session low of $15.190 per cwt (about $335 per ton). Today‟s reduced trade volume and tight trading range provides little indication of tomorrow‟s market direction. The day‟s trading range is noted as $15.175-$15.260 per cwt (about $335-$336 per ton). Tuesday, there were 297 contracts traded, down from 473 contracts traded on Monday. Open interest – the number of contracts outstanding – on Tuesday rose by 91 contracts to 14,463.
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Oryza Rice Currency Analysis for Today – Mexico Peso Rallies 0.62%; Euro Investors Await Tomorrow's ECB Rate Announcement By Oryza News on January 09,2013
U.S. dollar index was up +0.21% from the open today, when it traded at 80.813 at the close. Euro retraced -0.15% to around 1.3062 by end of day. The Euro fell again today ahead of the ECB interest rate decision tomorrow. Although there is no change in rate expected, investors remained sidelined while most of the FX majors remain in consolidation mode, watching key macro events. Thai baht closed the day +0.08% stronger, trading at 30.39 at the close of business today. Indian rupee was +0.46 stronger, when it traded at 54.7550 by session end. Brazilian real was +0.04% stronger than the open at today‟s close, when it ended at 2.0408 reais per dollar. Pakistan rupee was +0.14% stronger at the close today, when it traded at 97.2900. Vietnamese dong was unchanged from the 20,840 dong per dollar open, at the close of business today. Mexican peso recovered today, in the order of +0.62% by the close, and continues to remain “strong,” trading below the 13 peso per dollar pivot, at 12.7246 pesos per dollar by the close of business. Chinese yuan was -0.03% weaker today at the close, when it traded at 6.2261. Argentine peso was -0.09% weaker from the open, when it closed at 4.9360 pesos per dollar today.
Oryza Overnight Recap – Chicago Rough Rice Futures Slightly Higher as Possible Chinese Bean Sales Support U.S. Grains By news desk on January 09,2013
Chicago rough rice futures for March delivery were trading up 3.5 cents per cwt (about $1 cents) at $15.240 per cwt (about $336 per ton) as of 9:00am Chicago time. Rough rice futures are currently seen a touch higher after a very quiet overnight trading session. Total trade volume in the active March contract is noted as a dismal 35 contracts as of this writing. The other grains are seen higher this morning as a result of possible Chinese bean sales overnight and as traders rebalance holdings ahead of Friday‟s USDA S&D update. Outside markets are seen as supportive of U.S. grain prices this morning, with U.S. stocks higher as earnings season got off to a positive start with Alcoa reporting better than expected results after the market close yesterday. As of this writing the grain complex is trading higher: soybeans are trading up about 0.2%, wheat is trading up about 0.5%, and corn is seen about 0.5% higher. U.S. stocks extended their gains Wednesday, recovering from two days of declines, after Dow component Alcoa kicked off the fourth-quarter earnings season on a positive note. The Dow Jones Industrial Average rallied after sliding in the last two sessions. The S&P 500 and the Nasdaq also rose. U.S. stocks are currently trading up about 0.4%, gold is currently trading down about 0.1%, crude oil is trading up about 0.4%, and the U.S. dollar is currently trading about 0.3% higher at 9:00am Chicago time.
Research & Compiled by: Ricepluss Magazine News and R&D Section mujajhid.riceplus@gmail.com Cell # 92 321 369 2874 www.ricepluss.com
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