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US old-crop rice market has been strong, led by good milled rice export sales, domestic business and strong rough rice exports. South American suppliers ran low, letting the US regain share in Mexico and Central America, while El Niño weather issues in Asia lifted prices.
Tight South American supply and Asian weather concerns support US rice prices and export demand. Crop returns are lower than last year, and a rise in US long-grain acres could eventually swell stocks.
riceland.coopApr 3, 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.
Strong US milled and rough rice export sales and El Niño-driven Asian price support add demand pull to the US old-crop market.
