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LSU AgCenter economist Michael Deliberto reviewed a volatile 2020 US rice market and said USDA projects weaker 2021 long-grain prices at $11.50 per cwt versus $12 last year. Larger acreage and a good harvest are cited as drivers of the lower outlook.
A USDA-projected drop in US long-grain prices and larger plantings point to ample rice supply in 2021, which would weigh on rough rice values for feed and food buyers.
lsuagcenter.comNov 30, 2020After 87 past bearish report events, Rough Rice moved a median +0.0% over 5 sessions (53% higher; middle half -2.1% to +2.4%), and +1.1% 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.
