Oryza
Afternoon Recap - Chicago Rough Rice Futures Close Higher but Far from Session
High; Grains Pull Back as Traders Adjust ahead of Monday's USDA Report
Jan 07, 2015
Chicago rough rice futures for
Mar delivery settled 4.5 cents per cwt (about $1 per ton) higher at $11.650 per
cwt (about $257 per ton). Rough rice futures found stronger buying interest
today, moving higher and trading up as much as 12.5 cents per cwt (about $3 per
ton) during afternoon trading. Although the market closed off of the sessions
high today’s uptick in buying is seen as a positive development for the
short-term market outlook. The other grains mostly retraced today, with beans
seen as the only component of the complex to pull off a slight gain; Soybeans
closed about 0.05% higher at $10.5625 per bushel; wheat finished about 2.1%
lower at $5.7950 per bushel, and corn finished the day about 2.2% lower at
$3.9625 per bushel.
U.S. stocks jumped on Wednesday,
with the S&P 500 rebounding from a five-session dive, after positive data
on the labor market and as investors mulled minutes from the Federal Reserve.
Private employers added 241,000 jobs to their payrolls in December, surpassing
projections of a 226,000 gain, according to the ADP National Employment report.
The figures come two days before the U.S. Labor Department's nonfarm payrolls
report, with economists surveyed by Reuters looking for employment growth of
240,000 last month and a jobless rate of 5.7%. After a 206-point leap, the Dow
Jones Industrial Average was lately up 187.60 points, or 1.1%, to 17,559.24.
The S&P 500 added 22.71 points, or 1.1%, to 2,025.32, with health care the
strongest performer and all but one of its 10 major sectors rising. The Nasdaq
gained 51.28 points, or 1.1%, to 4,644.02. Gold is trading about 0.7% lower,
crude oil is seen trading about 0.5% higher, and the U.S. dollar is seen
trading about 0.6% higher at about 1:00pm Chicago time.
Tuesday, there were 228 contracts
traded, down from 590 contracts traded on Monday. Open interest – the number of
contracts outstanding – on Tuesday increased by 33 contracts to 8,857.
Global
Rice Quotes
January 7th, 2015
Long
grain white rice - high quality
Thailand 100% B grade 420-430 ↔
Vietnam 5% broken 375-385 ↔
India 5% broken 385-395 ↔
Pakistan 5% broken 375-385 ↔
Cambodia 5% broken 450-460 ↔
U.S. 4% broken 510-520 ↔
Uruguay 5% broken 595-605 ↔
Argentina 5% broken 595-605 ↔
Long
grain white rice - low quality
Thailand 25% broken NQ ↔
Vietnam 25% broken 345-355 ↔
Pakistan 25% broken 325-335 ↓
Cambodia 25% broken 430-440 ↔
India 25% broken 350-360 ↔
U.S. 15% broken 495-505 ↔
Long
grain parboiled rice
Thailand parboiled
100% stxd 405-415 ↔
Pakistan parboiled 5%
broken stxd 405-415 ↔
India parboiled 5%
broken stxd 375-385 ↔
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% 895-905 ↔
Vietnam Jasmine 510-520 ↔
India basmati 2%
broken NQ ↔
Pakistan basmati 2%
broken NQ ↔
Cambodia Phka Mails 805-815 ↔
Brokens
Thailand A1 Super 330-340 ↔
Vietnam 100% broken 325-335 ↔
Pakistan 100% broken
stxd 300-310 ↔
Cambodia A1 Super 355-365 ↔
India 100% broken stxd
295-305 ↔
Egypt medium grain
brokens NQ ↔
U.S. pet food 390-400 ↔
Brazil half grain NQ ↔
All prices USD per
ton, FOB vessel, oryza.com
Chinese Hongilian-Type Hybrid Rice Varieties Can Improve
Yields in Asia and Africa
Jan 07, 2015
The Hongilian-type hybrid rice
varieties, developed by Zhu Yingguo of the Wuhan University Hybrid Rice
Research Project, are the most sought hybrid rice varieties in South and
Southeast Asian countries such as Pakistan, Bangladesh, Myanmar, Indonesia,
Philippines and African countries for their ability to provide high yields as
well and their wide adaptability to new growing conditions, according to a news
release by the Wuhan University website.The varieties are relatively new in
China but have been gaining wide acceptance in foreign countries. They are an
environment friendly rice varieties and adjust well to the tropical climate and
land conditions quickly compared to local hybrid rice varieties in respective
countries and require less fertilizer. High yield, grain quality and resistance
to pests are other advantages associated with the Hongilian-type hybrid rice
varieties, according to the website. A Hongilian-type hybrid rice variety was
recognized as the "Chinese Super Hybrid Rice" in 2009.
"The agricultural sectors of
Indonesia, Philippines, Pakistan and other countries have expressed the hope to
further deepen cooperation with us; and they also wanted to carry out
cooperation in terms of scientific research, application and promotion,
personnel training and other aspects," Zhu Yingguo was quoted as
saying.The varieties can be helpful in ensuring food security in Southeast Asia
and Africa, according to experts.According to China's Agriculture Ministry,
average yields from hybrid rice varieties have been consistently growing since
2000. According to the Ministry, the yield of hybrid rice per hectare in China
crossed 10.5 hectares in 2000, 12 tons in 2005 and 13.5 tons in 2011
respectively. It reached around 14.4 tons in 2012. A particular hybrid rice
variety called "Y liangyou 900" has produced a yield of about 1,004.5
kilograms per mu (around 15 tons per hectare) in 2014, according to local
sources
Mexico
to Impose Import Tariffs on Paddy and Rice from January 9, 2015
Jan 07, 2015
Mexico, which announced its
decision to reinstate import tariffs on paddy and rice, in December 2014 will
start imposing tariffs with effect from January 9, 2014, according to local
sources. The North American nation has imposed a 9% tariff on imported paddy
rice and a 20% tariff husked, long grain and other imported rice from all the
countries that do not have free trade agreements (FTAs) with it.
The Mexican government
discontinued tariffs on paddy and rice imports in 2008 to reduce rice prices in
the country. However, it has decided to reinstate import tariffs as Mexico's
paddy rice production declined by about 50%, while domestic consumption has increased
about 12%. Its decision was published in a decree that was published in the
Diario Official (Mexico's Federal Register) on December 10, 2014. According to
the Decree, reinstatement of import tariffs on paddy and rice is necessary to
promote production, processing, and marketing of domestic rice and thus
strengthen the overall competitiveness of Mexico’s rice industry,
Mexico produces only 17% of its
annual consumption needs of around 890,000 tons and imports the rest. USDA
estimates Mexico to import around 775,000 tons of rice, basis milled in 2014-15
(October - September), up about 11% from an estimated 700,000 tons in 2013-14.
Experts
Call for National Rice Brand to Enhance Value of Vietnamese Rice
Jan 07, 2015
Experts have urged the Vietnam government
to develop a national brand for Vietnamese rice to increase its competitiveness
in the world rice market, according to local sources.Though Vietnam is the
world's second largest exporter of rice in 2012 and 2013, experts say the
quality and competitive edge of Vietnamese remains low compared to Thailand and
India and due to this Vietnam's rice sector has not been able to attract
foreign investments. The government has been trying to invite several foreign
investors to increase the quality and quantity of rice production in the
country but their efforts have not yielded sufficient results.
The Southern Food Corporation
(Vinafood I) Director General noted that Vietnamese rice has not been able to
attract high-end foreign customers due to lack f high-quality rice varieties.
High post-harvest losses, poor regional connectivity and lack of proper
collaboration within the rice value chain are main reasons for underdevelopment
of the country's rice sector, he said.
Researchers from the Mekong Delta
Development Research Institute (MDDRI) noted that earnings of Vietnamese rice
farmers are very low due to low prices of rice. The Head of the MDDRI said the
governemnt should study the country's rice value chain in detail and suggest
improvements in production, post-harvest treatment, quality, infrastructure and
distribution. Thus eventually a standard/brand could be developed for
Vietnamese rice.
He also noted that unless incomes
of farmers are improved, they are most likely to give up rice farming. He added
that the government needs to focus on devising proper policies to increase rice
production and incomes of farmers keeping in view the long-term food security
of the country.
Vietnam exported about 6.036
million tons of rice in January 1 - Dec 26, 2014, down about 10% from about
6.71 million tons of rice exported in full year of 2013, according to data from
the Vietnam Food Association (VFA).
Indian
North Eastern State Mizoram to Import 200,000 Tons of Rice from Myanmar
Jan 07, 2015
India's North Eastern state of
Mizoram has decided to import around 200,000 tons of rice from Myanmar,
according to local sources.The state's Food and Civil Supplies Secretary told
local sources that the bids submitted by the Myanmar importers were within the
limits set by the government without specifying the exact amounts. However, he
noted that the bids were lower than the earlier bids of about Rs.5,500 per
quintal (around $869 per ton) against the government's target of about $400 per
ton when the Food Corporation of India (FCI) invited tenders in October 2014.
Therefore, the state government
has decided to purchase rice from the private sector, including from
neighboring countries, to overcome shortages due to transportation disruptions
from the proposed railway conversion works on a 220-kilometer line between
Assam and Tripura, according to official sources. Earlier, the FCI officials
said transporting rice within India would prove costlier than importing from
Myanmar.Imports if materialized would help the state to create buffer stock to
ensure uninterruptable supplies. Currently, Mizoram has around 25,939 tons of
rice in stocks and there are no immediate supply issues, according to FCI
sources.
Oryza
Overnight Recap - Chicago Rough Rice Futures Remain Flat as Market Searches for
Direction
Jan 07, 2015
Chicago rough rice futures for
Mar delivery were paused 2 cents per cwt (about $0.44 per ton) lower at $11.585
per cwt (about $255 per ton) during early floor trading in Chicago. The other
grains are seen trading mixed: soybeans are currently seen 0.2% higher, wheat
is listed about 0.1% lower and corn is currently noted about 0.3% lower.U.S.
stock futures held sharp gains on Wednesday after data had private-sector job
creation increasing in December. The December ADP unemployment report comes
ahead of the nonfarm payrolls on Friday.
On Wednesday afternoon, minutes
from the Federal Reserve's mid-December meeting will be released, and could
offer hints as to the timing of interest-rate hikes ahead. November's trade
deficit could have narrowed on the back of collapsing oil prices, forecast
Ashworth. Oil prices continued to fall on Wednesday, with the price of Brent
crude temporarily dipping below $50 per barrel, for the first time since
mid-2009. Outside the U.S., official data showed that falling energy prices
pushed the euro zone into deflation, with prices falling 0.2% year-on-year in
December. U.S. stock index futures are seen trading about 0.8% higher. Gold is
currently trading about 0.6% lower, crude oil is seen trading about 0.6%
higher, and the U.S. dollar is currently trading about 0.6% higher at
10:10am Chicago time.
Pakistan
Rice Sellers Lower Some of Their Quotes Today; Other Asia Rice Quotes Unchanged
Jan 07, 2015
Pakistan rice sellers lowered
their quotes for 25% broken rice by about $5 per ton to around $325 - $335 per
ton today. Other Asia rice sellers kept their quotes unchanged today.
5% Broken Rice
Thailand 5% rice is quoted at
around $405 - $415 per ton, about $30 per ton premium on Vietnam 5% rice shown
at around $375 - $385 per ton. India 5% rice is quoted at around $385 - $395
per ton, about $10 per ton premium on Pakistan 5% rice quoted at around $375 -
$385 per ton.
25% Broken Rice
Thailand 25% rice was last quoted
at around $350 - $360 per ton, about $5 per ton premium on Vietnam 25% rice
shown at around $345 - $355 per ton. India 25% rice is quoted at around $350 -
$360, about $25 per ton premium on Pakistan 25% rice quoted at around $325 -
$335 per ton, down about $5 per ton from yesterday.
Parboiled Rice
Thailand parboiled rice is quoted
at around $405 - $415 per ton. India parboiled rice is quoted at around
$375 - $385 per ton, about $30 per ton discount to Pakistan parboiled rice
quoted at around $405 - $415 per ton.
100% Broken Rice
Thailand broken rice, A1 Super,
is quoted at around $330 - $340 per ton, about $5 per ton premium on Vietnam
100% broken rice shown at around $325 - $335 per ton. India's 100% broken rice
is shown at around $295 - $305 per ton, about $5 per ton discount to
Pakistan broken sortexed rice quoted at around $300 - $310 per ton.
Vietnam
Cuts Export Floor Prices of Higher and Medium Quality Rice Varieties to Meet
Philippine Demand
Jan 07, 2015
Vietnam has cut export floor
prices (minimum export prices) of higher quality and medium quality rice such
as 5%, 10% and 15% broken rice varieties to around $385 per ton, $375 per ton
and $365 per ton respectively to meet the Philippine demand of about 187,000
tons, according to Reuters. All prices are on Free-on-Board (FOB) basis.The
floor price of 5% broken rice was reduced about 6% from $410 per ton, according
to data from the Vietnam Food Authority (VFA).
In December 2014, the Philippines
National Food Authority allowed the private sector to import another 187,000
tons of rice under the minimum access volume (MAV) program and the rice is to
be delivered before February 28, 2015.Vietnam had cut the export floor price of
lower quality 25% broken rice variety to $380 per ton from about $410 per ton
in November 2014.Vietnam rice export prices have declined over the last week
due to higher supplies from winter-spring harvest and a sluggish demand from
buyers. Export prices of 5% broken rice currently stand at $370 per ton, down
about 4% from about $386 per ton in the last week of December 2014. On the
other hand, export prices of 25% broken rice currently stand at $350 per ton,
down about 1.4% from about $355 per ton in the last week of December 2014.
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