10th July , 2014
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TOP Contents - Tailored for YOU Latest News Headlines…
Oryza U.S. Rough Rice Recap - Very Quiet Market as Buyers Wait for Less Expensive New Crop Oryza Rice Currency Analysis for Today – Thailand Baht Advances 0.6% Italy Works to Combat Foot Rot and Rice Blast Oryza Afternoon Recap - Chicago Rough Rice Futures Tumble as Selling Pressure Picked up in Afternoon Trading Oryza Afternoon Recap - Chicago Rough Rice Futures Tumble as Selling Pressure Picked up in Afternoon Trading Iraq Buys 20,000 Tons of Basmati Rice from India South Korea Buys 26,211 Tons of Short-Grain Brown Rice in Tender Thailand, India Rice Sellers Increase Some of Their Quotes Today; Other Asia Rice Quotes Unchanged Oryza Overnight Recap - Chicago Rough Rice Futures Weighed Down Overnight by Bearish Grains while Old Crop July Continues to Search for Exit Thailand Rice Agencies Collaborate to Enhance High Quality Rice Seeds Production and Distribution Thailand Commerce Ministry Assures Traders and Exporters of Rice Quality following Reports of Missing and Low Quality Rice in Government WarehousesIndia May Curb Rice Exports if Poor Monsoons Dent Production, Says Food Ministry Official Oryza Global Rice Quotes
Oryza U.S. Rough Rice Recap - Very Quiet Market as Buyers Wait for Less Expensive New Crop Jul 09, 2014
The U.S. cash market was very quiet today with many sellers in no hurry to move their rice while buyers are on the sidelines waiting for less expensive new crop to become available. Meanwhile, there were 8 warehouse receipts canceled overnight leaving 554 on the exchange (50,414 tons).As of today, old crop offers were unchanged around $15.55 per cwt fob farm (about $343 per ton) for July shipment while some sellers are still holding out for at least $16.00 per cwt fob farm (about $355 per ton) before the end of the marketing year. Bids from exporters could still be found around $14.70 per cwt (about $324 per ton) for July delivery while some smaller mills were bidding considerably higher near $15.90 per cwt (about $351 per ton) for the same delivery period although both bids generated limited interest.
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Oryza Rice Currency Analysis for Today – Thailand Baht Advances 0.6% Jul 09, 2014
U.S. dollar index was down -0.20% from the open today, when it traded at 80.016 at the close. Euro was stronger +0.24% by the close, trading around 1.3646 by end of day, after trading between an intraday high of 1.3649 and low of 1.3602. Thai baht was stronger +0.60%, trading at 32.168 at the close of business. Indian rupee was stronger +0.05% at 59.7575. Brazilian real was stronger +0.07% at 2.2120 reais per dollar. Pakistan rupee was +0.17% stronger at 98.7213. Vietnamese dong was stronger +0.07% at 21248. Mexican peso was stronger +0.12% today, when it traded at 12.9655 pesos per dollar by the close of business. Chinese yuan was stronger +0.05% at 6.1990. Argentine peso was weaker -0.05% at 8.1432 pesos per dollar.
Italy Works to Combat Foot Rot and Rice Blast Jul 09, 2014
The Ente Nazionale Risi(National Agency for Rice, or ENR) in Italy has reported several cases of bacterial foot rot caused by Dickeya Chrysantemi in rice fields in the Novara, Pavia, and Varcelli areas. This bacterium is transported by water and can infect plants through the foot, at the beginning of the tillering phase. Unfortunately, there are few known remedies for this disease: the only solution is to leave the paddy field dry for a long time.Rice blast (Piricularia Oryzae) also causes problems for local rice-growers. The ENR together with Pavia University and several local institutions have begun a project to raise awareness about and provide growers with help for rice blast. Twice a week a bulletin about its presence will be issued, explaining where and how rice blast is infecting the fields. This service, available at www.provincia.no.it, will be active until August 18.
Oryza Afternoon Recap - Chicago Rough Rice Futures Tumble as Selling Pressure Picked up in Afternoon Trading Jul 09, 2014
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Chicago rough rice futures for Sep delivery settled 24.5 cents per cwt (about $5 per ton) lower at $13.455 per cwt (about $297 per ton). The other grains finished the day lower; soybeans closed about 1.1% lower at $11.0375 per bushel; wheat settled about 0.9% lower at $5.5125 per bushel, and corn finished the day about 1.6% lower at $3.9800 per bushel.U.S. stocks furthered their gains Wednesday, bouncing back after a two-day drop, as minutes from the Federal Reserve's last meeting had the central bank noting improvement in the economy and the labor market in the second quarter, as expected. The Federal Open Market Committee on Wednesday afternoon released minutes from its two-day gathering in June, at which the central bank reduced monthly bond purchases to $35 billion. The minutes pointed to the likely end of the asset-buying program also known as quantitative easing, or QE, in October. After initially cutting gains in the wake of the Fed release, stocks rose to session highs within 30 minutes. The Dow Jones Industrial Average rose 74.81 points, or 0.5%, to 16,981.43. The S&P 500 advanced 8.38 points, or 0.4%, to 1,972.09, with consumer discretionary the best performing and utilities faring the worst of its 10 major industry groups. The Nasdaq added 29.27 points, or 0.6%, to 4,420.66. Ahead of Wednesday's open, the Mortgage Bankers Association reported a rise last week in applications to buy a home, even as mortgage rates climbed. Gold is trading about 0.6% higher, crude oil is seen trading about 1.1% lower, and the U.S. dollar is seen trading about 0.1% lower about 12:00pm Chicago time.Tuesday, there were 462 contracts traded, up from 171 contracts traded on Monday. Open interest – the number of contracts outstanding – on Tuesday increased by 22 contracts to 8,051.
Oryza Afternoon Recap - Chicago Rough Rice Futures Tumble as Selling Pressure Picked up in Afternoon Trading Jul 09, 2014
Chicago rough rice futures for Sep delivery settled 24.5 cents per cwt (about $5 per ton) lower at $13.455 per cwt (about $297 per ton). The other grains finished the day lower; soybeans closed about 1.1% lower at $11.0375 per bushel; wheat settled about 0.9% lower at $5.5125 per bushel, and corn finished the day about 1.6% lower at $3.9800 per bushel.U.S. stocks furthered their gains Wednesday, bouncing back after a two-day drop, as minutes from the Federal Reserve's last meeting had the central bank noting improvement in the economy and the labor market in the second quarter, as expected. The Federal Open Market Committee on Wednesday afternoon released minutes from its two-day gathering in June, at which the central bank reduced monthly bond purchases to $35 billion. The minutes pointed to the likely end of the asset-buying program also known as quantitative easing, or QE, in October. After initially cutting gains in the wake of the Fed release, stocks rose to session highs within 30 minutes. The Dow Jones Industrial Average rose 74.81 points, or 0.5%, to 16,981.43. The S&P 500 advanced 8.38 points, or 0.4%, to 1,972.09, with consumer discretionary the best performing and utilities faring the worst of its 10 major industry groups. The Nasdaq added 29.27 points, or 0.6%, to 4,420.66.
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Ahead of Wednesday's open, the Mortgage Bankers Association reported a rise last week in applications to buy a home, even as mortgage rates climbed. Gold is trading about 0.6% higher, crude oil is seen trading about 1.1% lower, and the U.S. dollar is seen trading about 0.1% lower about 12:00pm Chicago time.Tuesday, there were 462 contracts traded, up from 171 contracts traded on Monday. Open interest – the number of contracts outstanding – on Tuesday increased by 22 contracts to 8,051.
Iraq Buys 20,000 Tons of Basmati Rice from India Jul 09, 2014
The Iraq Grain Board (IGB) has purchased around 20,000 tons of pure 1121 rice in a tender, bids for which were valid till July 2, 2014.The rice was purchased at around $1,593 per ton (CIF basis).
South Korea Buys 26,211 Tons of Short-Grain Brown Rice in Tender Jul 09, 2014
South Korea has purchased around 26,211 tons of short-grain brown rice of Chinese and Australian origins for delivery by December 15, 2014, in a tender, according to a notice on the website of Korea Agro-Fisheries & Food Trade Corporation (KAFTC).Korea purchased around 12,627 tons of short-grain brown rice of Chinese origin at about $927,98 per ton; and around 13,584 tons of short-grain brown rice of Australian origin about $927.8 per ton. The KAFTC rejected bid for around 4,039 tons of Jungripjong Tome brown rice.
Thailand, India Rice Sellers Increase Some of Their Quotes Today; Other Asia Rice Quotes Unchanged Jul 09, 2014 Thailand and India rice sellers increased their quotes for parboiled rice by about $5 per ton each to around $430- $440 per ton and $415 - $425 per ton respectively today. Other Asia rice sellers kept their quotes mostly unchanged.
5% Broken Rice
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Thai 5% rice (of new crop) is quoted at around $405 - $415 per ton, about $10 per ton discount to Viet 5% rice (of new crop) quoted at around $415 - $425 per ton. Indian 5% rice is quoted at around $430 - $440 per ton, about $5 per ton discount to Pak 5% rice quoted at around $435 - $445 per ton. 25% Broken Rice Thai 25% rice (of the old crop) was last quoted at around $350 - $360 per ton, about $15 per ton discount to Viet 25% rice (of new crop) quoted at around $365 - $375 per ton. Indian 25% rice is quoted at around $390 - $400 per ton, about $10 per ton premium on Pak 25% quoted at around $380 - $390 per ton. Parboiled Rice Thai parboiled rice (of the old crop) is quoted at around $430 - $440 per ton, up about $5 per ton from yesterday. Indian parboiled rice is quoted at around $415 - $4205 per ton, up about $5 per ton from yesterday and around $20 per ton discount to Pak parboiled rice quoted at around $435 - $445 per ton. 100% Broken Rice Thai broken rice, A1 Super, (of the old crop) was last quoted at around $310 - $320 per ton, about $20 per ton discount to Viet broken rice (of new crop) quoted at around $330 - $340 per ton. Indian broken sortexed rice is quoted at around $315 - $325 per ton, about $10 per ton discount to Pak broken sortexed rice quoted at around $325 - $335 per ton.
Oryza Overnight Recap - Chicago Rough Rice Futures Weighed Down Overnight by Bearish Grains while Old Crop July Continues to Search for Exit Jul 09, 2014 Chicago rough rice futures for Sep delivery were paused 3 cents per cwt (about $1 per ton) lower at $13.670 per cwt (about $301 per ton) during the trading break in Chicago. The other grains are seen lower this morning ahead of floor trading in Chicago: soybeans are currently seen about 0.6% lower, wheat is paused about 0.5% lower and corn is noted about 0.6% lower. U.S. stock index futures indicated a higher open Wednesday, as investors look to the minutes from the U.S. Federal Reserve's latest meeting for a steer on when interest rates could rise. The minutes, due to be published at 2 p.m. ET, have taken on all the more significance after strong jobs data has led some to argue a rate hike could come sooner than expected. Last week's strong non-farm payrolls data, and JOLTS job openings climbing to their highest level in seven years in May according to data released on Tuesday, could push the Fed to raise rates ahead of schedule. The Mortgage Bankers Association on Wednesday reporting a 4% rise last week in applications to buy a home, following several weekto-week declines. EIA oil-and-gas-inventory data is scheduled for 10:30 a.m. Eastern. On Tuesday, stocks skidded lower, extending the prior day's slide, as investors braced for the start of second-quarter earnings season. US stock index futures
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are currently seen trading about 0.1% higher, gold is currently trading about 0.8% higher, crude oil is seen trading about 0.3% lower, and the U.S. dollar is currently trading marginally higher at 8:45am Chicago time.
Thailand Rice Agencies Collaborate to Enhance High Quality Rice Seeds Production and Distribution Jul 09, 2014
Six Thailand rice agencies - The Rice Department, Bank for Agriculture and Agricultural Co-operatives (BAAC), Thai Rice Foundation under Royal Patronage, National Science Technology and Innovation Policy Office (STI), The Agricultural Research Development Agency (ARDA) and National Science and Technology Development Agency (NSTDA) - have collaborated to enhance production and distribution of high quality rice seeds in the country, according to BioSpectrum Asia.All the six agencies have signed a Memorandum of Understanding (MoU) to develop a network of seed producers and distributors, improve the system of production and certification of high quality seed as well as ensure aequate supply of rice seeds to meet the growing demand in the country. It will also include training program to increase high quality rice seed production, develop more rice seed certification centers, increasing rice seed awareness among farmers, developing rice seed value chain and providing adequate financial resources for farmers to invest in high quality rice seed production systems. Recently, the military government has abandoned the controversial rice pledging scheme and has offered farmers with crop subsidies and soft loans. Experts have been calling for new rice policy with no subsidies and effective means of reducing production costs for farmers.
Thailand Commerce Ministry Assures Traders and Exporters of Rice Quality following Reports of Missing and Low Quality Rice in Government Warehouses Jul 09, 2014 The Thai Commerce Ministry has assured rice traders and exporters of government rice stocks' quality following reports from stock inspecting teams about missing stocks and low-quality rice in government warehouses, according to local sources.The Ministry spokesperson told local media sources that most of the rice had been stored under good and hygienic conditions and there is not much scope for deterioration. He said the traders need not panic over the reports, adding that the government will not sell bad-quality rice.He noted that a complete report after the completion of nationwide of inspection of warehouses would provide a better picture of the rice stocks' quality and quantity. The Ministry instructed its overseas officers to send letters of clarification to foreign importers and rice-import agencies of different importing partner countries and assure them of the quality of rice. The military government sent around 100 teams to inspect the quality and quantity of rice stocks in around 1,800 government warehouses across the nation.
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They are likely to complete inspecting all warehouses by the end of this month. Meanwhile, the Agriculture Department predicted that rice yields in Thailand will be lower than expected due to delayed and reduced rainfall in the country as well as insufficient reservoir levels. The Permanent Secretary of Agriculture noted that the amount of milled rice production may decline to around 26 million tons, down about 7% from the targeted 28 million tons.
India May Curb Rice Exports if Poor Monsoons Dent Production, Says Food Ministry Official Jul 09, 2014
With El Nino-triggered poor monsoon rains, the Indian government is overtly concerned about the rice production declining in MY 2014-15 (October - September), and is planning to cut down on exports and ensure domestic supplies, according to Wall Street Journal.Ever since India lifted the ban on non-basmati rice exports in September 2011, she has secured the world's number one rice exporter. But if that position has to be secured this year as well, India has to compromise on domestic supplies and may have to import rice for its own needs. "We don't want to end up importing grains," a senior Food Ministry official was quoted as saying. He noted that though India has sufficient rice stocks, she would like to hold them for domestic needs in case bad weather conditions play spoilsport on rice production. The government has already decided to distribute the additional 5 million tons of rice it released from the Central Pool to Above Poverty Line (APL) and Below Poverty Line (BPL) families.Indian monsoon rainfall has been 43% below average for this time of year, according to data from the Indian Meteorological Department (IMD). Under normal conditions, India gets 70% of its total annual rainfall in June - September monsoon season. India's main rice crop planting, which begins in June as soon as the monsoon sets in is badly affected and it reached only 4.5 million hectares of rice area as of July 4, 2014, down about 35% from about 6.9 million hectares planted during the same time last year, according to the Agriculture Ministry. Although government officials have denied immediate plans to curb rice exports, they did not completely overrule it. They noted that the decision would depend on the quantity of rainfall and its distribution through the season. The Director of the Central Rice Research Institute expressed concerns that India's rice production could fall below 100 million tons from around 106 million tons produced last year.The International Grains Council (IGC) has estimated India's rice exports at 9.7 million tons in 2014, down about 8% from around 10.5 million tons exported in 2013. USDA estimates India to export around 10 million tons of rice in 2014, about 5% lower than around 10.5 million tons exported in 2013.While India's stance is likely to impact global rice supplies and prices, excessive stocks with Thailand (from the government's rice pledging scheme) is expected to provide some correction.
Oryza Global Rice Quotes July 9th, 2014 Long grain white rice - high quality
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Thailand 100% B grade 425-435 Vietnam 5% broken 415-425 ↔ India 5% broken 430-440 ↔ Pakistan 5% broken 435-445 ↔ Cambodia 5% broken 440-450 ↔ U.S. 4% broken 550-560 ↔ Uruguay 5% broken 625-635 ↔ Argentina 5% broken 620-630 ↔ Long grain white rice - low quality Thailand 25% broken NQ ↔ Vietnam 25% broken 365-375 ↔ Pakistan 25% broken 380-390 ↔ Cambodia 25% broken 410-420 India 25% broken 390-400 ↔ U.S. 15% broken 530-540 ↔ Long grain parboiled rice Thailand parboiled 100% stxd 430-440 Pakistan parboiled 5% broken stxd 435-445 India parboiled 5% broken stxd 415-425 U.S. parboiled 4% broken 630-640 Brazil parboiled 5% broken NQ ↔ Uruguay parboiled 5% broken NQ Long grain fragrant rice Thailand Hommali 92% 985-995 Vietnam Jasmine 575-585 ↔ India basmati 2% broken NQ ↔ Pakistan basmati 2% broken NQ ↔ Cambodia Phka Malis 845-855 ↔ Brokens Thailand A1 Super NQ ↔ Vietnam 100% broken 330-340 Pakistan 100% broken stxd 325-335 Cambodia A1 Super 350-360 ↔ India 100% Broken stxd 315-325 Egypt medium grain brokens NQ ↔ U.S. pet food 470-480 ↔ Brazil half grain NQ ↔
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Medium grain milled U.S. Calrose 4% broken 1025-1035 ↓ Egypt medium grain 6% NQ ↔ All prices USD per ton, FOB vessel, oryza.com
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