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The USDA raised its 2021/22 U.S. rice ending stocks to 33.5 million cwt, up half a million from January, and raised the average farm price to $15.70 per cwt. Cotton ending stocks were also raised to 3.5 million bales.
Higher U.S. rice stocks and a cut in exports are mildly bearish for rough rice, though the higher farm price signals firmer underlying values.
brownfieldagnews.comadminFeb 9, 2022After 50 past neutral report events, Rough Rice moved a median -0.0% over 5 sessions (50% higher; middle half -1.9% to +1.5%), and -1.2% 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.
