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Tridge's weekly rice update reports Brazil's 2023/24 rice output projected at 10.59 mmt, up 5.5% year on year, while Brazilian husk-based rice exports in August fell 41.5% in volume. Indonesia's January-August rice imports reached 3.05 mmt, up 121% year on year, with Thailand and Vietnam as main suppliers.
CONAB also cut Brazil's 2023/24 grain estimate to 298.41 mmt on rainfall shortfalls.
Brazil's weaker rice exports and Indonesia's heavy import pace point to firm regional demand, while the Brazilian grain cut signals tighter domestic supply that could support feed grain prices.
tridge.comNur HameedSep 27, 2024After 88 past bullish report events, Rough Rice moved a median +0.0% over 5 sessions (50% higher; middle half -1.5% to +2.1%), and +2.5% over 20.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% 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.
