Oryza U.S. Rough Rice Recap – Market Very Quiet Ahead of WASDE; Old Crop Supplies Seen Limited | Oryza
The U.S. cash rice market was very quiet today ahead of tomorrow’s USDA World Agriculture Supply and Demand Estimate which many believe should be friendly for new crop prices. Currently, seller price ideas remain firm at unattractive levels while buyers struggle to identify the limited number of lots remaining unsold.
As of today, old crop offer from farmers were unchanged near $16.90 per cwt fob farm (about $373 per ton) for July shipment while offers from resellers increased with the futures market to similar levels however loading out Chicago Board of Trade warehouse receipts continues to be more attractive to buyers.
Bids from mills and exporters increased to around $16.00 per cwt (about $352 per ton) for July delivery however they were no sellers willing to come off of their price ideas to make a trade.
As for new crop, most offers were unchanged near $15.55-$16.11 per cwt fob farm (about $343-$355 per ton) while bids could be seen around to around $14.60-$15.10 per cwt (about $322-$333 per ton) for October-November-December delivery although no trades were reported today.