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Mexico, historically almost entirely dependent on US rice imports, is shifting toward South American paddy rice, which is priced below US rice. The USA Rice Federation says it fears losing its largest and most reliable export market.
Losing Mexican demand to Brazilian and Uruguayan rice reduces US export volumes and weighs on US rough rice prices.
agri-pulse.comBill TomsonJan 18, 2023After 141 past bearish trade events, Rough Rice moved a median +0.6% over 5 sessions (57% higher; middle half -2.3% to +2.4%), and -0.6% 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.
