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Rough rice futures fell about 22% in the week ending June 12, 2020, their biggest weekly loss since March 1994. The most-active contracts were still up about 21% year to date, after touching their highest level since 2008 earlier in June.
Heavy rains affected the 2019-20 Delta crop, including in Arkansas.
A sharp drop in rice futures after a rally that was driven by pandemic-related demand and tight supplies signals a sharp retreat in pricing for rice buyers. Volatility may persist while the market works through supply uncertainty.
marketwatch.comMyra P. SaefongJun 12, 2020Not 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.
Directly describes the sharp rough rice futures selloff in the week ending June 12 (~22%, biggest weekly drop since 1994) after a run to multi-year highs, indicating a speculative unwind/sentiment reversal.
Directly describes the record weekly drop in rough rice futures (~22%, largest since 1994) after hitting highs since 2008, matching the move in magnitude and timing.
Reports the record ~22% weekly drop in rough rice futures in the week ending June 12 after hitting highs since 2008, directly describing the sharp sell-off (momentum/profit-taking) that continued into the 5-day window ending June 22.
Rough rice futures fell about 22% in the week ending June 12 after touching their highest level since 2008, so this is a sharp unwinding of the old-crop squeeze rally that overlaps the 5-day window.
