26th September , 2013
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TOP Contents - Tailored for YOU Latest News Headlines…
Argentina Exports 313,509 Tons of Rice in January – July 2013; Down 14% From Last Year Japan Donates 12,270 Tons of Rice to Liberia India Rice Sellers Lower Some of Their Quotes; Other Asia Rice Quotes Unchanged Oryza Overnight Recap – Chicago Rough Rice Futures Slightly Lower Overnight Despite Supportive Grains and Weaker US Dollar India Agriculture Minister Hopes for Record 2013-14 Winter Crop Thailand Government Short of Funds to Continue Rice Mortgage Program Oryza Afternoon Recap – Chicago Rough Rice Futures Close a Tick Lower, Despite Support from Rallying Wheat, Corn Oryza Rice Currency Analysis for Today – Brazil Real Plunges 1.2%; Pakistan Rupee Down 0.7% Oryza Quick Glance at World News Oryza Global Rice Quotes
NEWS DETAILS: Argentina Exports 313,509 Tons of Rice in January – July 2013
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Sep 25, 2013
Argentina has exported around 313,509 tons of rice in January – July 2013, down about 14% from around 363,594 tons exported in the same period last year, according to the Ministry of Agriculture.In July 2013, Argentina exported about 48,843 tons of rice, down about 16% from around 58,218 tons exported in June 2013, and down about 35% from around 74,674 tons of rice exported in July 2012.Brazil was the largest destination for Argentina rice in July 2013, accounting for around 29,258 tons or about 60% of total rice exports by Argentina in the month. Other major importers of Argentina rice in July 2013 include Iraq (about 13,856 tons), Chile (about 2,430 tons), Costa Rica (about 1,014 tons), Bolivia (about 912 tons), the U.S. (about 568 tons), and Peru (about 500 tons).According to the USDA, Argentina’s rice production in 2013-14 is expected to reach around 1 million tons against a consumption of about 410,000 tons. The USDA estimates Argentina’s full year 2013 rice exports to reach around 625,000 tons, compared to Ministry of Agriculture estimates of about 635,938 tons in 2012 and 785,224 tons exported in the full year 2011. Tags: Argentina rice exports
Japan Donates 12,270 Tons of Rice to Liberia
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Sep 25, 2013
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Japan has donated 12,270 tons of rice to Liberia to help the African nation control rice prices in the rural markets.Liberia’s Commerce Ministry says that the donated rice will be sold at around $14.50 per 30 kilograms (about $483 per ton) and the proceeds will be deposited in the Central Bank and will be used to support the country’s food security program.Rice is a staple in Liberia, but the country produces about 300,000 tons of rice against a consumption demand of around 570,000 tons. Liberia’s rice imports in 2013-14 are forecast at around 270,000 tons by the USDA. The government continues to suspend rice import tariff to maintain lower market prices. Tags: Africa rice, Japan rice sector
India Rice Sellers Lower Some of Their Quotes; Other Asia Rice Quotes Unchanged Sep 25, 2013
India rice sellers lowered their quotes for 100% broken rice by about $5 per ton to about $310 - $320 per ton today. Other Asia rice sellers kept their quotes mostly unchanged. 5% Broken Rice Thai 5% rice is quoted around $420 - $430 per ton, about a $65 per ton premium over Viet 5% rice (of summerautumn crop 2013) shown around $355 - $365 per ton. Indian 5% rice is quoted around $415 - $425 per ton, about a $25 per ton premium over Pak 5% rice (of new crop) quoted around $390 - $400 per ton. 25% Broken Rice Thai 25% rice is quoted about $405 - $415 per ton, about a $75 per ton premium over Viet 25% rice (of summer-autumn crop 2013) shown around $330 - $340 per ton. Indian 25% rice is quoted about $375 - $385 per ton, about a $35 per ton premium over Pak 25% rice (of new crop) quoted around $340 - $350 per ton. Parboiled Rice Thai parboiled rice is quoted around $450 - $460 per ton. Indian parboiled rice is quoted around $405 - $415 per ton, about a $15 per ton discount to Pak parboiled rice (of new crop) quoted around $420 - $430 per ton. 100% Broken Rice Thai broken rice, A1 Super, is quoted around $390 - $400 per ton, about a $65 per ton premium over Viet broken rice (of summer-autumn crop 2013) shown around $325 - $335 per ton. Indian broken sortexed rice is quoted about $310 - $320 per ton, down about $5 per ton from yesterday and about a $30 per ton discount to Pak broken sortexed rice (of new crop) last indicated at around $340 - $350 per ton. Tags: Asia rice quotes, Thailand rice quotes, Pakistan rice quotes, Vietnam rice quotes, India rice quotes
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Oryza Overnight Recap – Chicago Rough Rice Futures Slightly Lower Overnight Despite Supportive Grains and Weaker US Dollar Sep 25, 2013
Chicago rough rice futures for November delivery were paused 4.5 cents per cwt (about $1 per ton) lower at $15.440 per cwt (about $340 per ton) as of 8:30am Chicago time. The other grains are seen mixed during this morning break ahead of floor trading in Chicago: soybeans are currently seen trading marginally higher, wheat is seen trading about 0.7% higher, and corn is seen trading about 0.5% higher.U.S. stock index futures were mixed Wednesday following the latest durable goods orders report and as the House of Representatives were set to meet to debate the debt ceiling. The Senate is expected to reject a measure that would fund the government until month-end on Wednesday, but would partially defund Obamacare. If a deal is not struck, it could force a partial shutdown of the government. On the economic front, durable goods orders climbed 0.1% in August, according to the Commerce Department. Weekly mortgage applications gained for a second week as interest rates declined, according to the Mortgage Bankers Association. The Treasury will auction $35 billion of five-year notes. Benchmark 10-year notes gained for the fourth straight session on Wednesday, and for the 12th time in 14 days, with yields down at 2.64%. U.S. stock futures are currently trading about 0.1% higher, gold is currently trading about 0.4% higher, crude oil is seen trading about 0.5% higher, and the U.S. dollar is currently trading about 0.1% lower at 8:30am Chicago time. Tags: chicago rough rice futures
India Agriculture Minister Hopes for Record 2013-14 Winter Crop Sep 25, 2013
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India’s Agriculture Minister has urged scientists and policymakers to make best use of available soil moisture and ensure seeds, fertilizers and other inputs to help rabi (winter) crop food grain production reach a record high in 2013-14.The minister says that it is important to increase food grain production to meet the additional requirement of food grains for the implementation of the Food Security Act despite little possibility of increasing India’s net sown area. According to the minister, the government should opt for Genetically Modified (GM) crops if approved by scientists. Meanwhile, the Agriculture Commissioner says that while water in reservoirs is sufficient this year, farmers should go for early sowing of rabi crops to make efficient use of moisture conditions in view of deficient rainfall in September.Rabi (winter and secondary) rice crop accounts for about 10% of annual rice production in India. The main rice crop (Kharif) production in 2013-14 is estimated at around 92.3 million tons. In 2012-13, India’s total rice production stood at around 104.4 million tons, including about 92.76 million tons of Kharif rice and about 11.64 million tons of rabi rice. Tags: India rice production
Thailand Government Short of Funds to Continue Rice Mortgage Program Sep 25, 2013
Thailand’s Bank for Agriculture and Agricultural Cooperatives ( BAAC) says that the government may have to seek more loans to implement the rice mortgage program in 2013-14 due to low rice sales so far this yearAccording to the BAAC, the government has spent around 667 billion baht (about $21.3 billion) since the beginning of the rice mortgage program in October 2011. Earlier this year, the government said that it will repay around 220 billion baht (about $7 billion) to the BAAC by the end of the year from proceeds of rice sales. However, the government has repaid only 139 billion baht (about $4.4 billion) to the BAAC so far.Low sales this year have made it difficult for the government to generate revolving funds, say local sources. Bank officials say that the government will have to borrow more money from the bank to continue the rice mortgage program. Read related Oryza story: Thailand Extends Rice Mortgage Program; Purchase Prices Lowered for 2013-14 Off-Season Crop
Oryza Afternoon Recap – Chicago Rough Rice Futures Close a Tick Lower, Despite Support from Rallying Wheat, Corn Sep 25, 2013
Chicago rough rice futures for November delivery settled half a cent per cwt (about $0.11 per ton) lower at $15.480 per cwt (about $341 per ton) after trading on either side of unchanged during another dull trading session. The bulls managed to push prices higher in early trading, however they showed little conviction and were unable to maintain prices above nearby technical resistance and selling pressure soon dragged prices back
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toward unchanged for the day. Losses were likely limited by spillover support from the other grains as wheat surged on continued talk of high prices being paid in China; soybeans finished the day about 0.7% higher at $13.2175 per bushel; wheat finished about 1.9% higher at $6.7050 per bushel; and corn finished the day about 1.3% higher at $4.5575 per bushel. U.S. stocks slumped near session lows on Wednesday, with the Dow dropping more than 50 points, after WalMart said it is cutting orders amid an inventory backlog, and ongoing jitters over developments in Washington. The Dow Jones Industrial Average slipped into negative territory. The S&P 500 and the Nasdaq also declined. The Russell 2000 small-cap index climbed to hit a record high for the second-consecutive session. Meanwhile, the S&P 500 took a brief midday downturn near 1,697, with one market analyst attributing the hiccup to a program. Among key S&P sectors, financials rose, while health care held losses. U.S. stock markets are currently trading down about 0.4%, gold is trading about 1.4% higher, crude oil is seen about 0.5% lower, and the U.S. dollar is seen trading about 0.3% lower at about 2:00pm Chicago time.Turning to the daily continuation chart of Chicago rough rice futures for November delivery, the market made an attempt to make a move higher, testing nearby technical resistance at $15.570 per cwt (about $343 per ton) provided by the 20-day moving average. Despite the ability of the bulls to push prices into technically positive territory momentarily they found a lack of follow-through buying interest and prices quickly dipped back into negative territory. Today’s action has confirmed this area as a firm point of technical resistance which will come into play for any future attempts to break out to the upside. The ability of the bears to pull prices off of session highs and ultimately into negative territory by the close provides a negative forecast for future price movement and will likely be considered by traders upon the open of the market this evening. Today’s trading range is noted as $15.440-$15.610 per cwt (about $340-$344 per ton). Tuesday, there were 235 contracts traded, up from 171 contracts traded on Monday. Open interest – the number of contracts outstanding – on Tuesday increased by 30 contracts to 9,012. Tags: chicago rough rice futures
Oryza Rice Currency Analysis for Today – Brazil Real Plunges 1.2%; Pakistan Rupee Down 0.7% Sep 25, 2013
U.S. dollar index was down -0.32% from the open today, when it traded at 80.303 at the close. Euro was +0.40% higher today by the close, trading around 1.3527 by end of day, after trading between an intraday high of 1.3537 and low of 1.3462. The dollar took a hit today as the market became concerned about political risks in the U.S. Thai baht was stronger +0.16%, trading at 31.260 at the close of business. Indian rupee was stronger +0.54%, finishing the day at 62.4350.
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Brazilian real was -1.16% weaker than the open at today’s close, when it ended at 2.2269 reais per dollar. Pakistan rupee was -0.69% weaker at the close, trading at 107.0000. Vietnamese dong was unchanged at 21120. Mexican peso was -0.38% weaker today, when it traded at 12.9972 pesos per dollar by the close of business today. Chinese yuan was almost unchanged at 6.1195. Argentine peso was +0.01% stronger at 5.7715 pesos per dollar. Tags: foreign exchange rates
Oryza Quick Glance at World News Sep 25, 2013
Financial Times *President Barack Obama and his Iranian counterpart, Hassan Rouhani, backed a new drive for diplomacy over Iran’s nuclear program on Tuesday. The US president told the UN that there was ―the basis for a meaningful agreement.‖ Mr. Obama said he was directing John Kerry, US secretary of state, to ―pursue this effort with the Iranian government,‖ together with the other leading powers that have been involved in negotiations over Tehran’s nuclear program. *JPMorgan Chase is in talks to pay over $4 billion in a ―pay for peace‖ deal with US authorities to settle a host of allegations of wrongdoing in the mortgage securities market, according to people familiar with the matter. *Uhuru Kenyatta, Kenya’s president, said the terrorists had been ―defeated‖, as he announced the end to the four-day siege of an up market Nairobi shopping mall that killed dozens of people. *The Standard & Poor’s/Case-Shiller index, which tracks property values in 20 metropolitan regions across the US, rose 0.6% on a seasonally adjusted basis, compared with economists’ forecasts for a 0.8% gain. Prices rose 0.9% in June. *Qatar is set to adopt a more consensual approach in its foreign policy under its new emir after the gas-rich Gulf nation rattled some of its neighbors with controversial support for Mohamed Morsi, the ousted former Islamist president of Egypt, and its backing of rebels in Syria. *Graphite Capital, the British private equity house that owns London celebrities’ haunt The Groucho Club, has raised £475 million for U.K. deals, the largest amount amassed for the market in more than five years. *The Obama administration said on Wednesday that the majority of uninsured Americans who turned to the new healthcare exchanges would be able to buy coverage for $100 or less per month, taking into account new tax credits and an expansion of government insurance for the poor.
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*US authorities are set to bring criminal charges against current or former employees of ICAP, the world’s largest interdealer broker, as part of their investigation into the manipulation of benchmark interest rates, including Libor, people familiar with the matter say. Wall Street Journal *A powerful earthquake, magnitude of 7.7, jolted western Pakistan on Tuesday, bringing down houses and cutting communications in a remote area of Pakistan's Baluchistan province, and killing at least 200 people. *India's oil minister Tuesday ruled out any steep increase in diesel and cooking-fuel prices and asked people to conserve petroleum products to help the government's finances and reduce the country's oil-import bill. *Brazilian President Dilma Rousseff said that acts of terrorism, while deserving of condemnation and a firm international response, do not justify government-sponsored espionage between nations, in a pointed reference to alleged US spying on her country. *Indian government bonds have been hammered after Friday’s unexpected interest-rate hike by the central bank, and investors are now preparing for more rate increases. The yield on the benchmark 10-year government bond rose by 0.65 percentage point–a sharp move in the bond world–over the past three trading sessions through Tuesday. Yields move inversely to prices. *The Asian Development Bank plans to increase its lending to agribusiness companies and will also start picking up stakes in such enterprises from next year, a senior ADB official said. *India's summer food-grain production is forecast to rise to 129.32 million metric tons from 128.20 million tons a year earlier thanks to a good monsoon season and increased planting, and this may ease food inflation, boost rural incomes, and leave more grains available for export. *Senior EU finance officials have declined to back a change in budget policies that could have lightened the burden of austerity on Spain and other countries hard-hit by the crisis, an EU official said. New York Times *Federal prosecutors, seeking to cap a major chapter in an insider-trading crackdown, proposed settling a criminal case against hedge fund SAC Capital Advisors LP for $1.5 billion to $2 billion, people familiar with the case said. *About half of Americans disapprove of the way President Obama is handling foreign policy, a new high as he confronts a diplomatic opening with Iran and efforts to remove chemical arms in Syria, according to the latest New York Times/CBS News poll. *Russia announced on Tuesday that it had opened a piracy investigation against the crew of a Greenpeace ship after its activists scaled an offshore oil platform in the Arctic last week. The step signaled that the authorities intended to act decisively to thwart more protests against Russia’s ambitious plans to expand energy exploration in the region. *Rosneft on Wednesday dismissed Gazprom's opposition to its liquefied natural gas project with Exxon in Russia, saying the plans are intact for building the plant, increasing the stakes in competition for the lucrative market. *The GfK research institute said Wednesday its forward-looking consumer confidence indicator for Germany edged up to 7.1 points for October from 7.0 in September — a reading that itself was revised up from the initial forecast of 6.9.
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*Cambodia's main opposition party accused long-serving Prime Minister Hun Sen of a "constitutional coup" on Wednesday and said it could call a general strike as it steps up protests over its complaints of vote-rigging in July's general election. Tags: World news
Oryza Global Rice Quotes September 26th, 2013
Long grain white rice - high quality Thailand 100% B grade 430-440 Vietnam 5% broken 355-365 ↔ India 5% broken 415-425 ↔ Pakistan 5% broken 385-395 ↓ Cambodia 5% broken 445-455 ↔ U.S. 4% broken 600-610 ↑ Uruguay 5% broken 615-625 ↔ Argentina 5% broken 615-625 ↔ Long grain white rice - low quality Thailand 25% broken 405-415 ↔ Vietnam 25% broken 330-340 ↔ Pakistan 25% broken 335-345 ↓ India 25% broken 375-385 ↔ U.S. Calrose 4% broken 575-585
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Long grain parboiled rice Thailand parboiled 100% stxd 445-455 Pakistan parboiled 5% broken stxd 420-430 India parboiled 5% broken stxd 405-415 U.S. parboiled 4% broken 660-670 ↔ Brazil parboiled 5% broken 580-590 ↑ Uruguay parboiled 5% broken NQ ↔ Long grain fragrant rice Thailand Hommali 92% 1110-1120 Vietnam Jasmine 505-515 ↔ India basmati 2% broken 1515 -1525 Pakistan basmati 2% broken NQ ↔ Brokens Thailand A1 Super
390-400
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Vietnam 100% broken 325-335 Pakistan 100% broken stxd 340-350 India 100% Broken stxd 310-320 Egypt medium grain brokens NQ ↔ U.S. pet food 370-380 ↑ Brazil half grain 345-355 ↑ Medium grain milled U.S. Calrose 4% broken Egypt medium grain 6%
645-655 NQ ↔
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All prices USD per ton, FOB vessel, oryza.com
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