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USDA's Economic Research Service reports that global rice trading prices reached their highest level in more than 7 years by mid-April after several major exporters imposed bans and restrictions in March. Thai quotes rose 32% and Vietnamese quotes almost 25%, while US prices rose 10%.
Export bans removed a large share of already small exportable supplies, which lifted benchmark prices and raises import costs for price-sensitive buyers.
ers.usda.govMay 27, 2020After 189 past bullish trade events, Rough Rice moved a median +0.2% over 5 sessions (52% higher; middle half -1.7% to +2.4%), and +1.0% 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.
