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USDA's March 31, 2017 Prospective Plantings report shows U.S. rice growers intend to plant 2.626 million acres in 2017, down 17 percent from 2016. Long grain acreage is projected down 22 percent, while medium grain is roughly flat.
USDA projects 2017 production at 199 million hundredweight, down 11 percent, with yields recovering about seven percent.
Lower acreage points to smaller U.S. rice supplies despite better yields, which supports domestic rough rice and milled rice prices.
fb.orgBrandy CarrollApr 25, 2017After 88 past bullish report events, RICE moved a median +0.0% over 5 sessions (50% higher; middle half -1.5% to +2.1%), and +2.5% 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.
