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Rice Farming analyst Kurt Guidry argues that 2020 rice prices were supported by the lowest beginning stocks since 2003-04 and firm demand, despite a more than 22% rise in production. He projects 2020-21 ending stocks to rise 77% for all rice and more than 120% for long-grain, which could pressure prices if acreage does not fall and demand does not grow.
Rising ending stocks point to weaker US rice prices in 2021 unless acreage cuts or stronger demand offset the larger supply, which would weigh on feed and food rice values.
ricefarming.comVickyJan 15, 2021Not 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.
