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A Rice Farming column says USDA's October 2016 estimates show large US rice supplies and uneven demand. USDA cut 2016 per-acre yields by 200 to 300 pounds in Arkansas, Louisiana and Mississippi but also cut export demand by about 2.5 percent.
Rice export sales through October 6 were down 10 percent year on year, mostly in long-grain.
Lower export demand offsets production cuts, so the price outlook for US rough rice stays weak despite the smaller crop. Feed buyers should expect little support from US supply tightening.
ricefarming.comVickyDec 1, 2016After 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.
