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Thailand's benchmark 5% broken rice quotes rose to $480-$505 per tonne, their highest since August 2013 and a sixth straight weekly gain. Vietnamese 5% broken rates climbed to $410 per tonne, the highest since November 2018.
Traders cited drought-related supply shortages and coronavirus-driven stockpiling by millers.
Thin domestic supplies and farmers holding back stock tighten export availability, which supports Asian rice export prices. Limited supply against steady demand points to further price upside.
financialpost.comReutersMar 19, 2020After 179 past bullish weather events, Rough Rice moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.5%), and +2.2% 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.
