Oryza Afternoon Recap – Chicago Rough Rice Futures Rebound Slightly, but
Close off of Session High as Selling Increases in Afternoon Trade
Dec 02, 2014
Chicago rough rice
futures for Jan delivery settled 4.5 cents per cwt (about $1 per ton) higher at
$12.185 per cwt (about $269 per ton). Rough rice futures attempted to mount a
bit of a recovery today, following yesterday’s steep decline. The market was up
as much as 11.5 cents per cwt (about $3 per ton) during mid-session trading,
however the bulls were unable to maintain this price level and an afternoon
selloff saw prices dip back closer to where they had begun the day.
The market
has formed an inside day today, as prices were unable to trade beyond
yesterday’s trading session, and thus the significance of today’s price
direction will be limited and thus the market will likely remain in a
technically bearish condition in coming days. The other grains closed sharply
lower today; Soybeans closed about 2.1% lower at $9.9575 per bushel; wheat
finished about 0.6% lower at $6.0325 per bushel, and corn finished the day
about 2.2% lower at $3.8125 per bushel.
U.S. stocks
rose on Tuesday, rebounding from the prior day's drop, as investors considered
better-than-expected November sales from Ford Motor, General Motors and Fiat
Chrysler. Stocks maintained gains after the Commerce Department reported
construction spending rose 1.1% in October. Energy costs were on the retreat
again, with crude futures for January delivery falling $1.02, or 1.5%, to
$67.95 a barrel. At or near session highs, the Dow Jones Industrial Average
rose 95.65 points, or 0.5%, to 17,872.45. The S&P 500 advanced 12.39 points,
or 0.6%, to 2,065.83, with energy pacing sector gains and telecommunications
the sole laggard of its 10 major industries. The Nasdaq gained 16.86 points, or
0.4%, to 4,744.21. Gold is trading about 1.5% lower, crude oil is seen trading
about 1.8% lower, and the U.S. dollar is seen trading about 0.8% higher at
about 1:00pm Chicago time.Monday, there were 1,701 contracts traded, up
from 748 contracts traded on Friday. Open interest – the number of contracts
outstanding – on Monday increased by 418 contracts to 10,182.
Taiwan Lifts Eight-Year Ban on U.S. Long Grain Rice Imports; Invites
Tenders for 3,000 Tons of Long-Grain Brown Rice
Dec
02, 2014
Taiwan has removed
the longstanding eight-year ban on U.S. long grain rice imports and has
scheduled tender for importing around 3,000 tons of U.S. long grain brown rice
for December 10, 2014, according to USDA Post.Taiwan imposed ban on U.S. long
grain rice imports in summer 2006 and has not heeded to requests by the U.S.
several times. Taiwan's Agriculture and Food Agency (AFA) scheduled two tenders
of 1,500 tons each on December 10. According to the Post, this is the first
time Taiwan has issued tender for U.S. long grain after it opened its rice
market in January 2002.
Taiwan's AFA issued
a tender for 1,500 tons of U.S. origin long grain brown rice with amylose
content greater than or equal to 24% for delivery between May 1 - June 30,
2014. It issued another tender for 1,500 tons of U.S. origin long grain brown
rice for delivery between May 1 - June 30, 2014.According to the Post, Taiwan
primarily purchases California-grown short/medium grain rice and high
California rice prices are said to have given an impetus to lift the
long-standing ban on U.S. long-grain rice imports.
Oryza Overnight Recap – Chicago Rough Rice Futures Remain Under Pressure as
Cash Market Remains Quiet Going into Holiday Season
Dec
02, 2014
Chicago
rough rice futures for Jan delivery are currently trading 6 cents per cwt
(about $5 per ton) lower at $12.080 per cwt (about $266 per ton) during early
floor trading in Chicago. The other grains are seen mostly higher: soybeans are
currently seen unchanged, wheat is listed about 0.9% higher and corn is noted
about 0.5% lower.
U.S.
stocks looked set for a higher open on Tuesday, after oil prices rose and Asian
shares closed at multi-year highs. U.S. and Brent crude oil, as well as gold,
rallied overnight, following weeks of declines. This helped mining and
commodity stocks post strong gains early on Tuesday, with an additional boost
coming from reports that the Chinese central bank might cut bank reserve
requirements. Reuters reported early on Tuesday that the People's Bank of China
might unveil a cut to banks' reserve requirements on the back of recent weak
economic data.
China mainland shares closed at a fresh three-year peak,
resuming their gains after snapping a seven-session winning streak on Monday.
Official factory activity data earlier this week fell to an eight-month low,
prompting talk of further stimulus. No major earnings are due on Tuesday.
Economic data out include construction spending for October, which is expected
to increase. Gold is currently trading about 1% lower, crude oil is seen
trading about 1.5% lower, and the U.S. dollar is currently trading about
0.5% higher at 8:10am Chicago time.
Vietnam and India Rice Sellers Increase Some Quotes Today; Thailand Rice
Sellers Lower Some Quotes Today
Dec
02, 2014
Vietnam rice sellers
increased their quotes for 25% broken rice and jasmine rice by about $2 per ton
and about $5 per ton respectively to around $355 - $360 per ton and around $530
- $540 today. India rice sellers increased their quotes for 5%, 25% and
parboiled varieties by about $5 per ton each to around $395 - $405 per ton,
around $350 - $360 per ton and around $380 - $390 per ton respectively.
Thailand rice sellers lowered their quotes for Thai Ai Super rice variety by
about $5 per ton to around $355 - $365 per ton. Other Asia rice sellers kept
their quotes mostly unchanged.
5% Broken Rice
Thailand 5% rice is
quoted at around $405 - $415 per ton, about $25 per ton premium on Vietnam 5%
rice shown at around $380 - $390 per ton, unchanged from yesterday. India 5%
rice is quoted at around $395 - $405 per ton, about $5 per ton premium from
yesterday and about $15 per ton premium on Pakistan 5% rice quoted at around
$380 - $390 per ton.
25% Broken Rice
Thailand 25% rice
was last quoted at around $350 - $360 per ton, on par with Vietnam 25% rice
shown at around $350 - $360 per ton and unchanged from yesterday. India 25%
rice is quoted at around $350 - $360, about $5 per ton premium from yesterday
and about $15 per ton premium on Pakistan 25% rice quoted at around$335 - $345
per ton.
Parboiled Rice
Thailand parboiled
rice is quoted at around $405 - $415 per ton. India parboiled rice is quoted at
around $380 - $390 per ton, about $5 per ton premium from yesterday and about
$40 per ton discount to Pakistan parboiled rice quoted at around $420 - $430
per ton.
100% Broken Rice
Thailand broken
rice, A1 Super, is quoted at around $355 - $365 per ton, down about $5 per ton
from yesterday and about $30 per ton premium on Vietnam 100% broken rice shown
at around $325 - $335 per ton. India's 100% broken rice is shown at around $300
- $310 per ton, unchanged from yesterday and about $5 per ton discount to
Pakistan broken sortexed rice quoted at around $305 - $315 per ton.
Global Rice Quotes
December 2nd, 2014
Long grain white rice
- high quality
Thailand 100% B grade 420-430
↔
Vietnam 5% broken 380-390
↔
India 5% broken 395-405
↑
Pakistan 5% broken 380-390
↔
Cambodia 5% broken 455-465
↔
U.S. 4% broken 540-550
↔
Uruguay 5% broken 595-605
↔
Argentina 5% broken 595-605
↔
Long grain white rice
- low quality
Thailand 25% broken NQ ↔
Vietnam 25% broken 355-365
↑
Pakistan 25% broken 335-345
↔
Cambodia 25% broken NQ
↔
India 25% broken 350-360
↑
U.S. 15% broken 515-525
↔
Long grain parboiled
rice
Thailand parboiled 100% stxd 405-415
↔
Pakistan parboiled 5% broken stxd 420-430 ↔
India parboiled 5% broken stxd 380-390
↑
U.S. parboiled 4% broken 580-590
↔
Brazil parboiled 5% broken 570-580
↔
Uruguay parboiled 5% broken NQ
↔
Long grain fragrant
rice
Thailand Hommali 92% 915-925
↔
Vietnam Jasmine 530-540
↑
India basmati 2% broken NQ
↔
Pakistan basmati 2% broken NQ
↔
Cambodia Phka Malis 835-845
↔
Brokens
Thailand A1 Super 355-365
↓
Vietnam 100% broken 325-335
↔
Pakistan 100% broken stxd 305-315
↔
Cambodia A1 Super NQ ↔
India 100% Broken stxd 300-310
↔
Egypt medium grain brokens NQ
↔
U.S. pet food 445-455 ↔
Brazil half grain NQ
↔
All prices USD per
ton, FOB vessel, oryza.com
Oryza U.S. Rough Rice Recap – Prices Hold as Interest in Market Fizzles
Dec
02, 2014
The U.S. cash market
was unchanged today as both buyers and sellers continue to be unimpressed with
the prices they are seeing. Analysts report that the spread between the bid in
the ask was roughly $0.25-$0.50 per cwt (about $6-$11 per ton).
Buyers contend
that there is little to no demand at these levels and they intend to remain
hand to mouth as it has worked out well for them this marking year while
sellers would prefer hold on to their rice until they are forced to sell rather
selling at these levels today.
Thai Commerce Ministry Initiates Business Matching Project to Boost Rice
Exports
Dec 02, 2014
The project, which
is scheduled for December 02-03, 2014, is expected to increase the value of
Thai rice exports significantly next year. A wide group of importers from North
America, Europe, Latin America and Africa.The Commerce Minister told local
sources that importers represent department stores, retail stores, super
markets and general traders from various countries and are inclined for
purchasing rice and rice-based products as well as food and beverages,
household appliances and home decor from Thailand. He noted that importers are
guided through Thai rice farms and mills to give them assurance about the
quality of Thai rice. He also added that the government is keen on adding newer
export markets while retaining the existing ones.
He hinted at a
possible government-to-government (G2G) contract with China, which will be
signed later this month. China is expected to buy nearly 2 million tons of rice
from Thailand starting next year.The Minister added that the Department of
International Trade Promotion is planning to release export strategies for
various products, including rice, for 2015 by the end of this month. He said
the government targets to increase country's next year's exports, including
those of rice, by about 4%.
Thailand has
exported around 7.56 million tons of rice in the first nine months (January -
September) of 2014, up about 15% from around 6.6 million tons exported during
the same period in 2013, according to data from Thai Rice Exporters Association
(TREA). The TREA is expecting Thailand to export over 11 million tons of
rice in 2014.
