# A Quick Look at the 2024 Rice Market

> US rice production rose to about 2.9 million acres in 2023 after two years of decline. The November rough rice futures contract traded near $14.66/cwt in March 2024, and an El Nino-linked drought is hitting off-season rice production in Thailand, Burma and Indonesia.

- Date: 2024-03-11 · published 2024-03-11T12:00:00.000Z
- Category: weather · region Global · magnitude low
- Page: https://feedsoft.ai/events/31269-a-quick-look-at-the-2024-rice-market
- Commodities: [Rough Rice](https://feedsoft.ai/c/RICE.md)

## Why it matters

Drought-hit Asian off-season output could reduce exportable rice supplies, supporting global prices, while a larger US medium-grain crop caps upside for US rough rice.

## Read by commodity

- RICE: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| RICE | 2024-04-15 | [A Quick Look at the 2024 Rice Market - Rice Farming](https://feedsoft.ai/events/6714-a-quick-look-at-the-2024-rice-market-rice-farming.md) | +10.3% | +11.8% |
| RICE | 2026-01-06 | [Rice Futures Up, Still Near 2016-Lows — TradingView News](https://feedsoft.ai/events/9168-rice-futures-up-still-near-2016-lows-tradingview-news.md) | +0.7% | +11.8% |
| RICE | 2018-12-14 | [YEAREND: Arkansas rice, soybean faced tough weather challenges in 2018](https://feedsoft.ai/events/61435-yearend-arkansas-rice-soybean-faced-tough-weather-challenges-in-2018.md) | +0.7% | -0.2% |
| RICE | 2020-07-09 | [Thai rates hit 4-month low, Vietnam jumps as heavy rains persist - Markets - Business Recorder](https://feedsoft.ai/events/5362-thai-rates-hit-4-month-low-vietnam-jumps-as-heavy-rains-persist-markets.md) | -26.5% | -28.4% |
| RICE | 2022-06-02 | [Good monsoon outlook in India tempers fears of rice export curbs \| Today News](https://feedsoft.ai/events/40904-good-monsoon-outlook-in-india-tempers-fears-of-rice-export-curbs-today-news.md) | -1.3% | -4.1% |

## Sources

- southernagtoday.org: https://southernagtoday.org/2024/03/11/a-quick-look-at-the-2024-rice-market/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.