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European rice futures rose above $18 per hundredweight, their highest since June 2020, after the USDA cut its 2022 US production estimate to 164.3 million cwt. Global rice supplies fell 2.5 million tons to 686.8 million, with lower output in several Asian and African producers.
A tighter global rice supply outlook and firm Indian export prices support higher rice values for feed and food buyers.
financebrokerage.comGery ArcherNov 28, 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.
