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A US rice market update said the July 11 WASDE cut the long grain season average farm price to $6.35 per bushel and raised projected new-crop ending stocks to 76.9 million bushels. September rough rice futures were volatile, with fund selling and commercial buying.
A lower projected US farm price and higher ending stocks point to a bearish outlook for US rough rice values.
After 87 past bearish report events, RICE moved a median +0.0% over 5 sessions (53% higher; middle half -2.1% to +2.4%), and +1.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.