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A US rice market update reports domestic milling demand keeping mills busy while exports are stalled, with paddy prices holding near $17/cwt in major growing states. A USDA GAIN report expects Indian rice output to fall 6% after unseasonal October rains.
Weak US export demand limits upside for domestic paddy, while lower Indian output supports global rice prices and narrows the gap that keeps US exports uncompetitive.
myemail.constantcontact.comNov 4, 2022Not 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.
US market update shows mills busy with domestic demand and paddy holding near $17/cwt, plus an expected 6% drop in Indian output after unseasonal rains, which supports firm US rough rice prices.
