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USDA's November WASDE cut the 2016/17 U.S. rice crop by 1.2 million cwt to 234.8 million on lower yields, with reductions only in Arkansas and Missouri. The season-average farm price was lowered by $0.10 per cwt, and global rice ending stocks were raised 1 million tons.
A smaller U.S. crop and lower farm price trim domestic rice supply, but global ending stocks rising means ample world supply that caps rice price gains.
usarice.comNov 9, 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.
