# Rice Prices Plummet as Hurricane Brings Hits Growing Areas

> Rough rice prices dropped sharply after July 4, 2024, as Hurricane Beryl was expected to miss damaging growing areas and bring beneficial moisture to the Delta. Improved US weather and anticipated large crops after earlier heavy rain suggest supply tightness will ease. Wheat rose in the prior week on hot, dry weather in eastern Europe and Russia and wet weather in France, and USDA quarterly stocks came in slightly above expectations.

- Date: 2024-07-09 · published 2024-07-09T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/4978-rice-prices-plummet-as-hurricane-brings-hits-growing-areas
- Commodities: [Rough Rice](https://feedsoft.ai/c/RICE.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Expected larger US rice crops point to significantly higher fall supplies and lower rice prices. Wheat gains from Black Sea and European weather support feed grain costs but are tempered by the stocks report.

## Read by commodity

- RICE: bearish ▼
- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| RICE | 2024-07-17 | 5 | -26.9% | -8.2 | Hurricane Beryl was expected to miss US Delta growing areas and bring beneficial moisture, easing supply-risk premium and triggering a sharp drop in rough rice futures. |
| WHEAT | 2024-07-08 | 1 | +9.4% | 3.2 | Describes wheat rising on hot, dry weather in eastern Europe and Russia and wet weather in France, plus slightly bearish USDA stocks, which fits a short-covering rally into July 8. |
| RICE | 2024-07-14 | 1 | -24.8% | -12.8 | Rough rice prices fell sharply as Hurricane Beryl was expected to miss US growing areas, easing weather-related supply fears and adding bearish sentiment. |
| RICE | 2024-07-19 | 5 | -27.2% | -7.9 | Hurricane Beryl was expected to miss growing areas and bring beneficial moisture, easing supply concerns and prompting a sharp drop in rough rice prices in early July, though the timing precedes the 5-day window. |
| RICE | 2024-07-11 | 1 | +11.4% | 5.8 | Hurricane Beryl was expected to miss US growing areas and bring beneficial moisture, which eased supply-risk premium in US rough rice, though this precedes the July 11 move and does not clearly explain an 11.4% single-day jump. |
| RICE | 2024-07-15 | 1 | -24.8% | -12.0 | Hurricane Beryl was expected to miss growing areas and bring beneficial moisture, which eased supply-tightness concerns and removed weather premium, but it is dated earlier and describes a decline after July 4. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| RICE | 2020-05-15 | [Rice prices ease on high production  \| The Business Standard](https://feedsoft.ai/events/7505-rice-prices-ease-on-high-production-the-business-standard.md) | -7.9% | -7.8% |
| RICE | 2020-09-04 | [High production costs force rice mills to beg for government aid](https://feedsoft.ai/events/51194-high-production-costs-force-rice-mills-to-beg-for-government-aid.md) | -1.8% | +0.8% |
| RICE | 2023-05-09 | [Asia rice output turns corner as farmers expand planting](https://feedsoft.ai/events/36006-asia-rice-output-turns-corner-as-farmers-expand-planting.md) | -1.6% | -0.1% |
| RICE | 2025-06-27 | [India's Rice Bins Are Stuffed And Another Record Crop Coming](https://feedsoft.ai/events/24156-india-s-rice-bins-are-stuffed-and-another-record-crop-coming.md) | -3.3% | -3.3% |
| RICE | 2018-11-21 | [Louisiana ratoon crop comes at a cost — rutted fields - Rice Farming](https://feedsoft.ai/events/62122-louisiana-ratoon-crop-comes-at-a-cost-rutted-fields-rice-farming.md) | +0.8% | -2.0% |
| WHEAT | 2019-05-29 | [How high can grain prices grow \| Saxo](https://feedsoft.ai/events/10898-how-high-can-grain-prices-grow-saxo.md) | +9.6% | +15.3% |
| WHEAT | 2022-05-24 | [Spring wheat, oat futures outperform, as storms hamper US sowings - Grain Price News](https://feedsoft.ai/events/41453-spring-wheat-oat-futures-outperform-as-storms-hamper-us-sowings-grain-price-news.md) | -0.7% | -2.5% |
| WHEAT | 2021-04-24 | [Grain prices pushed higher as weather worries grow - Farmers Weekly](https://feedsoft.ai/events/10294-grain-prices-pushed-higher-as-weather-worries-grow-farmers-weekly.md) | +3.3% | -0.2% |

## Sources

- born2invest.com: https://born2invest.com/articles/rice-prices-plummet-hurricane-beryl/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.