16th October , 2014
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TOP Contents - Tailored for YOU Latest News Headlines… VFA Foresees Stiff Competition for Vietnam Rice Exporters Next Year China Imports 1.65 Million Tons of Rice in First Eight Months of 2014, Up 4% from Last Year Global Rice Quotes Myanmar Exports 630,071 Tons of Rice in First Six Months of FY 2014-15, Twice Over Last Year Oryza Afternoon Recap - Chicago Rough Rice Futures Slide as Bearish Outside Markets Weigh on Prices Oryza Afternoon Recap - Chicago Rough Rice Futures Continue Higher Following Yesterday’s Bullish Reversal; Grains Rally While Crude Gets Demolished Oryza Overnight Recap - Chicago Rough Rice Futures Fall under Renewed Selling Campaign Following Two Sessions of Gains Oryza U.S. Rough Rice Recap - Prices Soften amid Ample Supply and Limited Demand; USDA Estimates 82% of Crop Harvested Thai Commerce Ministry and Rice Exporters Consider Measures to Boost Rice Prices Thailand, Vietnam Rice Sellers Increase Their Quotes Today; Pakistan Rice Sellers Lower Their Quotes
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VFA Foresees Stiff Competition for Vietnam Rice Exporters Next Year Oct 15, 2014
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The Vietnam Food Association (VFA) is foreseeing a stiff competition for Vietnam rice exporters in 2015 given a comeback of Thailand as well as increasing stocks in India, Myanmar, Pakistan and Cambodia, according to local sources.Speaking at a conference organized by the Ministry of Agriculture and Rural Development (MARD), the VFA Vice-President noted that while Vietnam rice exporters are struggling to sell all the rice stocks bought from farmers to balance export volumes in next three months of the year, Thai rice exporters has been concentrating on recovering traditional markets such as Malaysia, Indonesia, China and the Philippines. He added that they are also keen on capturing the African market as well. He also stated that Pakistan, Cambodia and Myanmar would release more stocks into the export market with increased outputs from the main season crops. Though India rice production is likely to be dented this year due to low rains, so far the government has not indicated at any move to curb rice exports next year. Moreover, India's buffer stocks in its Central Pool are likely to support exports. Meanwhile, export prices of Viet rice are higher compared to those of Thailand, India and Pakistan and they are expected to be more or less at current levels until the end of this year due to subdued demand from foreign buyers. In September 2014, average rice export prices of Viet 5% rice stood at around $448 per ton compared to Thai 5% rice at $432 per ton, according to the UN's Food and Agricultural Organization (FAO). Average export prices of Viet 25% rice stood at around $408 per tons, while prices of India 25%, Pakistan 25%, and Thai 25% rice stood at around $384 per ton, $359 per ton and $410 per ton respectively. Vietnam exported around 4.843 million tons of rice in January 1 - October 9, 2014, down about 16% from around 5.76 million tons of rice exported during January - October, 2013, according to data from the Vietnam Food Association (VFA). Exporters are hopeful of exporting around 1.4 million tons of rice in the next three months of this year and reach the target of exporting around 6.3 million tons of rice in 2014.USDA estimates Vietnam to export around 6.5 million tons of rice in 2014 and around 6.7 million tons in 2015. Tags: Vietnam rice exports, Vietnam Food Association (VFA), Vietnam rice prices
China Imports 1.65 Million Tons of Rice in First Eight Months of 2014, Up 4% from Last Year Oct 15, 2014
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China has imported around 1.65 million tons of rice in the first eight months of 2014 (January - August), up about 4% from around 1.586 million tons imported during the same period last year, according to data from China Customs General Administration. In August 2014, China imported around 145,465 tons of rice, down about 19% from around 180,000 tons imported in July 2014, and up about 25% from around 116,201 tons imported in August 2013. Also, China has exported around 179,062 tons of rice in January - September 2014, down about 51% from around 363,161 tons exported during the same period last year, according to data from the China Customs General Administration. In September 2014, China exported around 43,489 tons of rice, up about 69% from around 25,779 tons exported in August 2014 and up about 20% from around 36,380 tons exported in September 2013. China exported about 478,400 tons of rice and imported about 2.267 million tons of rice in 2013. USDA estimates China to produce around 144 million tons of rice, import around 3.7 million tons and export around 350,000 tons of rice in MY 2014-15 (July - June). Tags: China rice imports, China rice exports, China Customs General Administration
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Global Rice Quotes October 15th, 2014 Long grain white rice - high quality Thailand 100% B grade 435-445 ↑ Vietnam 5% broken
435-445 ↑
India 5% broken
415-425 ↔
Pakistan 5% broken
395-405 ↓
Cambodia 5% broken
465-475 ↔
U.S. 4% broken
525-535 ↔
Uruguay 5% broken
595-605 ↔
Argentina 5% broken
595-605 ↔
Long grain white rice - low quality ↔
Thailand 25% broken
NQ
Vietnam 25% broken
400-410 ↑
Pakistan 25% broken
345-355 ↓
Cambodia 25% broken 450-460 ↔ India 25% broken
370-380 ↔
U.S. 15% broken
510-520 ↔
Long grain parboiled rice Thailand parboiled 100% stxd
420-430 ↔
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Pakistan parboiled 5% broken stxd 425-435 ↔ India parboiled 5% broken stxd
405-415 ↔
U.S. parboiled 4% broken
600-610 ↔
Brazil parboiled 5% broken
595-605 ↔
Uruguay parboiled 5% broken
NQ
↔
Long grain fragrant rice Thailand Hommali 92%
1015-1025 ↔
Vietnam Jasmine
575-585
↔
India basmati 2% broken
NQ
↔
Pakistan basmati 2% broken NQ
↔
Cambodia Phka Malis
↔
880-890
Brokens Thailand A1 Super
340-350 ↔
Vietnam 100% broken
330-340 ↔
Pakistan 100% broken stxd 320-330 ↔ Cambodia A1 Super
360-370 ↔
India 100% Broken stxd
320-330 ↔
Egypt medium grain brokens NQ
↔
U.S. pet food
445-455 ↔
Brazil half grain
NQ
↔
Medium grain milled
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U.S. Calrose 4% broken 935-945 ↔ Egypt medium grain 6% NQ
↔
All prices USD per ton, FOB vessel, oryza.com
Myanmar Exports 630,071 Tons of Rice in First Six Months of FY 2014-15, Twice Over Last Year Oct 15, 2014
Myanmar has exported around 630,071 tons of rice in the first six months (April - September) of FY 2014-15, more than double over around 300,000 tons exported during the same period last year, according to local sources.The sources quoted the Ministry of Commerce as saying that the country earned around $238 million from exports in April - September period compared to around $133 million earned during same period last year. The Ministry noted that Myanmar exported around 120,000 tons (of worth $42 million) of rice by sea and around 510,966 tons (of worth $196 million) of rice on land.Earlier, the Ministry noted that rise in exports is mainly due to increased demand from Russia and other European countries. However, Myanmar's rice exports to China have suffered since the beginning of this fiscal year due to a freeze in official exports through Muse border by Chinese officials. Authorities from both countries are reportedly discussing a new trade agreement that will allow hassle-free exports from Myanmar to China. Myanmar exported record 1.33 million tons of rice in 2012-13, but exports dropped to 1 million tons in MY 2013-14. The government is keen on increasing rice exports and accordingly has put rice at the top of its National Export Strategy for 2014-2019 and is planning to explore newer markets for its rice exports.SDA estimates Myanmar to produce 18.68 million tons of paddy rice (around 11.96 million tons, milled basis) and export around 1.3 million tons of rice in MY 2013-14 (January - December 2014).
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Oryza Afternoon Recap - Chicago Rough Rice Futures Slide as Bearish Outside Markets Weigh on Prices Oct 15, 2014
Chicago rough rice futures for Nov delivery settled 13 cents per cwt (about $3 per ton) lower at $12.590 per cwt (about $278 per ton). Rough rice futures gave back the majority of the gains earned over the previous two trading sessions as outside negativity and renewed selling pressure weighed on prices and pushed them back towards the lower end of the current $12.500-$12.800 per cwt (about $276-$282 per ton) trading range. The other grains closed mostly lower today; Soybeans closed about 1.3% lower at $9.5250 per bushel; wheat finished about 0.6% lower at $5.0600 per bushel, and corn finished the day about 2.7% lower at $3.4750 per bushel.U.S. stocks resumed a decline after shaving early losses on Wednesday as Europe markets closed in the red and weak domestic economic data weighed heavily on markets. Stocks held to a downward trend after the Fed released its "Beige Book" that said the economy is growing at a "modest to moderate" pace. Just before 2 p.m. ET, volume on the New York Stock Exchange matched "normal" volume for the entire session at 3.5 billion shares. The Dow and S&P had their worst day in nearly three years as the Dow fell more than 450 points to below 16,000, a level it has not breached since February 14. Stocks fell nearly 3 percent as the Nasdaq fell more than 100 points and dipped into correction territory. European stocks closed more than 2 percent lower on Wednesday as investors shunned risky assets on fears of crumbling global growth, weak economic data, and concerns about the political situation in Greece. In the United States, transports fell about 2 percent in late morning trade led by a decline in airlines on reports that the new Ebola patient flew the day before falling ill. However, analysts said there were no reports of flight cancellations due to the disease. Earlier, in a cumulative move of about 600 points in losses and gains, the Dow Jones Industrial Average came off lows to trade about 250 points lower after falling as much as 369.59 points in the open, or about 2%, to below 16,000. The S&P 500 lost more than 54 points, or 2.87%, with financials knocked the hardest and materials the least hit as all 10 sectors declined. The Nasdaq fell into correction territory, trading 104 points lower, or 2.48%, at 4,122. Gold is trading about 0.7% higher, crude oil is seen trading about 0.8% lower, and the U.S. dollar is seen trading about 0.8% lower at about 1:30pm Chicago time.Tuesday, there were 1,381 contracts traded, up from 602 contracts traded on Monday. Open interest – the number of contracts outstanding – on Tuesday decreased by 147 contracts to 11,185.
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Oryza Afternoon Recap - Chicago Rough Rice Futures Continue Higher Following Yesterday’s Bullish Reversal; Grains Rally While Crude Gets Demolished Oct 14, 2014
Chicago rough rice futures for Nov delivery settled 9 cents per cwt (about $2 per ton) higher at $12.720 per cwt (about $280 per ton). Rough rice futures managed to build on yesterday’s bullish reversal and continued higher, once again finding support from neighboring grain pits which saw gains as much as 3%. Prices are now within 8 cents per cwt (about $2 per ton) of overhead resistance at $12.800 per cwt (about $282 per ton) and traders will keep a keen eye on this level as an indication of future price direction. A breakout to the upside could likely trigger additional technical buying and could see prices shoot towards $13.000 per cwt (about $287 per ton). However; a failure at this level would likely indicate that the market will continue within its current sideways trading range. The grain complex as a whole rallied today; Soybeans closed about 2.1% higher at $9.6475 per bushel; wheat finished about 0.8% higher at $5.0925 per bushel, and corn finished the day about 3.2% higher at $3.5700 per bushel.U.S. stocks jumped on Tuesday, rebounding from Wall Street's worst three-day rout since 2011, as investors considered earnings from the banking sector. Dialing back from session highs that had the Dow Jones Industrial Average rising 142 points, the blue-chip index was lately up 64.38 points, or 0.4%, at 16,385.45. The S&P 500 rose 18.18 points, or 1%, to 1,892.92, with industrials pacing gains that stretched to seven of 10 major industry groups. The Nasdaq gained 34.67 points, or 0.8%, to 4,248.33. Gold is trading about 0.4% higher, crude oil is seen trading about 4.5% lower, and the U.S. dollar is seen trading about 0.4% higher at about 1:30pm Chicago time.Monday, there were 602 contracts traded, up from 278 contracts traded on Friday. Open interest – the number of contracts outstanding – on Monday decreased by 26 contracts to 11,332.
Oryza Overnight Recap - Chicago Rough Rice Futures Fall under Renewed Selling Campaign Following Two Sessions of Gains Oct 15, 2014
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Chicago rough rice futures for Nov delivery are currently noted 16.5 cents per cwt (about $4 per ton) lower at $12.555 per cwt (about $277 per ton) during early morning floor trading in Chicago. The other grains are seen trading with mixed results: soybeans are currently seen 0.1% higher, wheat is listed about 0.4% lower and corn is noted about 0.6% lower. U.S. stocks recovered after opening sharply lower on Wednesday as European woes and weak economic data weighed heavily on markets. The Dow Jones Industrial Average cut losses to trade about 100 points lower after falling as much as 369.59 points in the open, or about 2%, to below 16,000. Dow futures lost more than 150 points ahead of the open. Overall, U.S. stock index futures lost about 1% as investors were unnerved by word of another Ebola case diagnosed in the U.S., along with a more than 7% drop in the Greek markets that drove a flight to safety in German bunds, with the 10-year bond trading below 0.8%. Weak economic data also weighed on investor sentiment. U.S. retail sales fell 0.3% in September, slightly more than the expected 0.2% decline. The producer price index for September fell 0.1% as opposed to expectations of a 0.1% gain. Meanwhile, German Bund yields fell to a record low on Wednesday as worries over a deteriorating euro zone economic outlook, fed by another credit rating blow for France, and "free falling" inflation expectations dominated the market. Gold is currently trading about 0.3% higher, crude oil is seen trading about 0.4% higher, and the U.S. dollar is currently trading about 0.7% lower at 9:45am Chicago time.
Oryza U.S. Rough Rice Recap - Prices Soften amid Ample Supply and Limited Demand; USDA Estimates 82% of Crop Harvested Oct 14, 2014
The U.S. cash market was slightly weaker today however there was little trading as buyers continue to drop their bids while sellers look for place to move the rice that they don’t have room to store.As of today, offers were decreased to around $12.50-$12.75 per cwt fob farm (about $276-$281 per ton) while bids could still be seen near $12.50-$12.85 per cwt (about $276-$283 per ton) for October-November however no trades were reported. Meanwhile, the Iraqi Grain Board issued another tender, after canceling their last three white rice tenders, for at least 30,000 tons of long grain white rice of either U.S., Uruguayan, Argentine, Brazilian, Vietnamese, or Thai origin. Offers need to be submitted no later than October 27 and must remain valid through October 31. In the meantime, the USDA estimates that as of Oct 12, 82% of the U.S. rice crop has been harvested which was 4% greater than the previous 5-year average. As of now, the USDA estimates that 85% of the rice crop in Arkansas has been harvested compared to 59% in California, 100% in Louisiana, 87% in Mississippi, 69% in Missouri, and 100% in Texas.
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Thai Commerce Ministry and Rice Exporters Consider Measures to Boost Rice Prices Oct 15, 2014
Thai Commerce Ministry and the Thai Rice Exporters Association (TREA) have agreed to work together to ensure that the prices do not fall during the upcoming harvest time, according to Bloomberg.The government is keen on increasing prices of unmilled white rice to about 8,500 baht (around $261) per ton and prices of unmilled jasmine rice to about 15,000 - 16,000 baht (around $461 - $492) per ton during the upcoming main crop harvest season. The prices are said to be favorable to farmers, millers as well as exporters.The Commerce Minister told reporters that the TREA has proposed certain measures to help boost rice prices. He noted that exporters have agreed to hold about 2 million tons of rice to ensure that increased supplies from the upcoming harvest season do not put downward pressure on prices. The government is expecting around 6 million tons of rice to reach market from October. He also noted that the government would provide unspecified support to the exporters during harvest time.The Ministry said the government would continue selling rice from stockpiles. The TREA Honorary President expressed hope that Thailand would export around 11 million tons of rice in 2014. Thailand has exported around 6.6 million tons of rice in the first eight months (January - August) of 2014, up about 59% from around 4.14 million tons exported during the same period in 2013, according to data from TREA.
Thailand, Vietnam Rice Sellers Increase Their Quotes Today; Pakistan Rice Sellers Lower Their Quotes Oct 15, 2014
Thailand rice sellers increased their quotes for 5% broken rice by about $5 per ton to around $420 - $430 per ton today. Vietnam rice sellers increased their quotes for 5% broken rice and 25% broken rice by about $5 per ton each to around $435 - $445 per ton and $400 - $410 per ton respectively. Pakistan rice sellers lowered their quotes for 5% broken rice and 25% broken rice by about $5 per ton each to around $395 - $405 per ton and $345 - $355 per ton respectively. India rice sellers kept their quotes unchanged today. 5% Broken Rice Thailand 5% rice is quoted at around $420 - $430 per ton, up about $5 per ton from yesterday and about $15 per ton discount to Vietnam 5% rice shown at around $435 - $445 per ton, up about $5 per ton from yesterday.
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India 5% rice is quoted at around $415 - $425 per ton, about $20 per ton premium on Pakistan 5% rice quoted at around $395 - $405 per ton, down about $5 per ton from yesterday. 25% Broken Rice Thailand 25% rice was last quoted at around $350 - $360 per ton, about $50 per ton discount to Vietnam 25% rice shown at around $400 - $410 per ton, up about $5 per ton from yesterday. India 25% rice is quoted at around $370 - $380 per ton, about $25 per ton premium on Pakistan 25% rice quoted at around $345 - $355 per ton, down about $5 per ton from yesterday.
Parboiled Rice Thailand parboiled rice is quoted at around $420 - $430 per ton. India parboiled rice is quoted at around $405 $415 per ton, about $20 per ton discount to Pakistan parboiled rice quoted at around $425 - $435 per ton. 100% Broken Rice Thailand broken rice, A1 Super, was last quoted at around $340 - $350 per ton, about $10 per ton premium on Vietnam broken rice shown at around $330 - $340 per ton. India broken sortexed rice is quoted at around $320 $330 per ton, on par with Pakistan broken sortexed rice quoted at around $320 - $330 per ton. Tags: Vietnam rice prices, India rice prices, pakistan rice prices, Thailand rice prices
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