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The USDA cut its 2024-25 world rice production forecast by 464,000 tonnes to 527.7 million, still a record. Export forecasts were raised for Thailand and the US, and Thai quotes fell 1-2% over the past month.
A smaller but still record world crop and softer Thai and US rough rice quotes point to continued ample supply and weak rice prices.
world-grain.comChris LyddonAug 22, 2024After 87 past bearish report events, Rough 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.
