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LSU AgCenter economists report that US rice prices have rebounded to their highest levels in at least seven years, driven by tight supplies and steady demand. Bulk sales to Haiti are supporting long-grain prices, and July rice is quoted near $23 per barrel while September is above $19.
Tight US supplies and firm demand keep domestic rice prices elevated. A possible shift of Arkansas acreage from soybeans to rice could eventually weigh on prices, but supply tightness currently supports them.
arlenbennycenac.comEmily GautreauxMay 28, 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.
Reports of seven-year-high US rice prices, tight supplies, and Haiti bulk sales support the bullish old-crop fundamentals behind a sharp rise in July futures.
