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Fitch Solutions forecasts 2023 will log the largest global rice shortfall in two decades, with rice prices at decade highs. The deficit is attributed to the Ukraine war and weather problems in China and Pakistan, and prices are expected to stay elevated until 2024.
A structural rice deficit with decade-high prices supports rough rice values and raises costs for importers, while tightening supply may push buyers toward substitute feed grains.
cnbc.comLee Ying ShanApr 19, 2023After 88 past bullish report events, Rough Rice moved a median +0.0% over 5 sessions (50% higher; middle half -1.5% to +2.1%), and +2.5% over 20.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
