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S&P Global reports that feed buyers in Asia are increasingly purchasing low-quality white rice, including Indian 100% broken and Myanmar 25% broken grades, with Myanmar rice also sold to Europe for feed. The FAO says rice use for feed has risen since 2020-21, and the shift follows the Russian invasion of Ukraine, which lifted wheat and maize prices.
Higher wheat and maize prices make cheaper broken rice a viable feed substitute, which supports low-grade rice prices. The FAO notes that outside forces will determine where the market goes from here.
spglobal.comMar 30, 2022After 189 past bullish trade events, Rough Rice moved a median +0.2% over 5 sessions (52% higher; middle half -1.7% to +2.4%), and +1.0% 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.
