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The April WASDE made only minimal changes to US long grain and medium grain rice balance sheets. USDA cut long grain ending stocks by 500,000 cwt to 13.7 million cwt and raised its season-average farm price forecast by $0.20 to $13.20 per cwt.
Projected long grain stocks-to-use of 12.7% would be the lowest since 2007/08, which supports prices. Tight cash supplies in Louisiana and Arkansas are also lifting spot quotes.
myemail.constantcontact.comApr 9, 2020After 88 past bullish report events, Rough Rice moved a median +0.0% over 5 sessions (50% higher; middle half -1.5% to +2.1%), and +2.5% 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.
