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Japan's Ministry of Agriculture reported private rice inventories of 2.55 million tonnes at end-September, a record surplus. Retail rice prices have fallen for 11 consecutive weeks, and the Hokka Hokka Tei bento chain cut its large rice portion price by 20 yen from September 12 as procurement costs fell.
Japan's record stocks and falling retail rice prices point to weaker domestic demand pressure, but this has little direct effect on the feed grain or ingredient markets that feed buyers track.
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.