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Rice prices were about 17% lower than a year earlier in mid-June, while wheat was 37% higher and corn 27% higher. The drop is attributed to bumper Asian crops and rice trade being largely unaffected by the Ukraine war.
Some Asian farmers are switching to corn and soybeans.
Ample Asian supply keeps rice cheap relative to other grains, limiting its feed substitution appeal versus corn. Lower rice prices weigh on the rice complex.
foodprocessing.comJun 29, 2022Not enough comparable past events yet for a historical read.
Not 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.
