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Harvest in Louisiana and Texas is nearly 90% complete and Arkansas is at 40%, running well ahead of last year. Calrose cash prices had bottomed below $8/cwt over loan amid weak Middle East demand and a large crop.
Producers expect stronger Japanese and MENA buying to push old-crop prices above $9/cwt.
Fast harvest progress adds to supply, but expected export demand from Japan and the Middle East could lift old-crop cash prices, supporting US rice values.
usriceproducers.comIris FigueroaSep 13, 2024Not enough comparable past events yet for a historical read.
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.
