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The USDA tightened the US rice balance sheet, cutting new-crop stocks by 11.4 million hundredweight to 35.8 million on lower beginning stocks and reduced production. The average farm price was raised to $13.20 per hundredweight, up $1 from August.
Cotton prices were also revised lower.
A smaller US rice supply and higher farm price support rice values, and the revision indicates tighter domestic supply for feed and food rice users. The effect on feed markets is limited.
brownfieldagnews.comSep 13, 2019After 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.
Not 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.
