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Thai 5% broken rice reached $616/mt FOB on May 16, a two-month high, driven by demand from Brazil and Mexico. Floods in Rio Grande do Sul, which produces about 70% of Brazil's rice, have damaged fields and could raise Brazilian imports.
Brazilian flood losses increase import needs and lift Asian export demand, supporting Thai rice prices. The effect is moderately bullish for global rice.
ukragroconsult.comMay 21, 2024After 179 past bullish weather events, Rough Rice moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.5%), and +2.2% 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.
