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November rough rice futures touched $14 per cwt early in the week but finished lower as the US dollar rallied to a one-year high of 94.52. Diesel rose to $2.36 per gallon after Hurricane Ida, raising trucking, rail and barge costs.
Export shipments of long-grain milled rice reached a marketing-year high.
A stronger dollar makes US rice less competitive abroad and weighs on futures. Higher freight and fuel costs also add to basis and delivery costs.
ricefarming.comVickyOct 1, 2021Not 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.
