South Korea Buys 75,378 Tons of
Non-Glutinous Rice in a Tender
May 08, 2015
South Korea Buys 75,378
Tons of Non-Glutinous Rice in a Tender
South Korea's state
run Agro Fisheries & Food Trade Corporation (KAFTC) has bought 75,378 tons
of non-glutinous brown and milled rice for delivery between October and
November 2015, according to a tender notice on KAFTC website.
The registration of
bids is valid till May 20, 2015 and electronic bidding for the same is valid
till May 21, 2015.
Oryza Afternoon Recap - Chicago Rough Rice Futures Trade Higher but Remain
Sharply Lower on the Week
May 08, 2015
Chicago
rough rice futures for Jul delivery settled 4.5 cents per cwt (about $1 per
ton) higher at $9.740 per cwt (about $215 per ton). The other grains finished
the day mostly higher; Soybeans closed about 0.1% higher at $9.7625 per bushel;
wheat finished about 1.9% higher at $4.8150 per bushel, and corn finished the
day about 0.2% higher at $3.5850 per bushel.U.S. stocks surged more than 1% on
Friday as investors cheered a jobs report that showed economic growth but not
enough, in the eyes of most, to warrant central bank tightening immediately.
Analysts called the April employment figures a "Goldilocks" report
because it was just right for gains in stocks.
The
Dow Jones industrial average extended gains, briefly rising more than 275
points. The index quickly added 250 points after the open as all blue chips
advanced. April's jobs report showed a creation of 223,000 jobs and an
unemployment rate of 5.4%. Average hourly earnings increased 0.1%, a touch
below expectations of 0.2%. The Dow futures more than tripled from about 50
points to as much as 191 points on the jobs report, which was mostly in-line
with expectations. In other economic news, wholesale inventories up 0.1% in
March, versus 0.3% gain estimates. European equities gained, with the
FTSE 100 jumping about 2% on a more decisive-than-expected U.K. election
outcome.
The
Dow Jones Industrial Average traded up 266 points, or 1.49%, at 18,188. The
S&P 500 traded up 28 points, or 1.33%, at 2,115, with financials leading
all 10 sectors higher. The Nasdaq traded up 62 points, or 1.26%, at 5,007. Gold
is trading about 0.5% higher, crude oil is seen trading about 0.5% higher, and
the U.S. dollar is seen trading about 0.1% higher at about 1:15pm Chicago
time.Thursday, there were 871 contracts traded, down from 1,022 contracts
traded on Wednesday. Open interest – the number of contracts outstanding – on
Thursday increased by 216 contracts to 11,057.
Oryza Overnight Recap – Chicago Rough Rice Futures Stabilize in Morning
Trade as Wheat and Corn Provide Support
May 08, 2015
Chicago
rough rice futures for Jul delivery are currently seen trading 3.5 cents per
cwt (about $1 per ton) lower at $9.730 per cwt (about $215 per ton) during
early floor trading in Chicago. The other grains are seen trading with mixed results:
soybeans are currently seen about 0.4% lower, wheat is listed about 0.8% higher
and corn is currently noted 0.2% higher.U.S. stocks surged on Friday as
investors cheered a jobs report that showed economic growth but not enough to
warrant central bank tightening immediately. Analysts called the April
employment figures a "Goldilocks" report because it was just right
for gains in stocks.
The
Dow Jones industrial average quickly gained more than 250 points as all blue
chips advanced. Earlier, futures tripled on the 8:30 a.m. data release. April's
jobs report showed a creation of 223,000 jobs and an unemployment rate of 5.4%.
Average hourly earnings increased 0.1%, a touch below expectations of 0.2%. The
Dow futures tripled from about 50 points to as much as 191 points on the jobs
report, which was mostly in-line with expectations. Wholesale inventories up
0.1% in March, versus 0.3% gain estimates.
European
equities gained, with the FTSE 100 jumping about 2% on a more
decisive-than-expected U.K. election outcome. Risk assets and bank stocks
gained, while the sterling rallied to trade at 1.5413 against the dollar. The
Dow Jones Industrial Average traded up 212 points, or 0.1.18%, at 18,135. The
S&P 500 traded up 20 points, or 0.95%, at 1,207, with health care leading
all 10 sectors higher. The Nasdaq traded up 53 points, or 1.09%, at 4,999. Gold
is currently trading about 0.3% higher, crude oil is seen trading about 0.8%
lower, and the U.S. dollar is currently trading about 0.1% higher at
9:15am Chicago time.
Thailand Rice Sellers Lower Some of Their Quotes; Vietnam Rice Sellers
Increase Some of Their Quotes
May 08, 2015
Thailand rice
sellers lowered their quotes for Hommali rice by about a $5 per ton to about
$875- $885 per ton today. Vietnam rice sellers increased their quotes for 100%
broken rice by about a $5 per ton to about $310 - $320 per ton. Other Asia rice
sellers kept their quotes mostly unchanged.
5% Broken Rice
Thailand 5% rice is
indicated at around $370 - $380 per ton, about a $20 per ton premium on Vietnam
5% rice shown at around $350 - $360 per ton.
India 5% rice is
indicated at around $370 - $380 per ton, about a $5 per ton discount to
Pakistan 5% rice shown at around $375 - $385 per ton.
25% Broken Rice
Thailand 25% rice is
shown at around $350 - $360 per ton, about a $20 per ton premium on Vietnam 25%
rice shown at around $330- $340 per ton.
India 25% rice is
indicated at around $345 - $355, about a $15 per ton premium on Pakistan 25%
rice shown at around $330 - $340 per ton.
Parboiled Rice
Thailand parboiled
rice is indicated at around $375 - $385 per ton.
India parboiled rice
is indicated at around $360 - $370 per ton, about a $30 per ton discount to
Pakistan parboiled rice shown at around $390 - $400 per ton.
100% Broken Rice
Thailand broken
rice, A1 Super, is indicated at around $315 - $325 per ton, about a $5 per ton
premium on Vietnam 100% broken rice shown at around $310 - $320 per ton, up
about a $5 per ton from yesterday.
India's 100% broken
rice is shown at around $270 - $280 per ton, about a $15 per ton discount
to Pakistan broken sortexed rice shown at around $285 - $295 per ton.
Thailand
to Impeach Former Commerce Minister
May 08, 2015
Amid
allegations of corruption in the former Thai government’s rice mortgage scheme,
the Thai junta’s National Legislative Assembly (NLA) has voted to impeach the
former Commerce Minister Boonsong, according to local media. Boonsong was also
banned from politics for five years by the NLA.
The
corruption case centers around Boonsong’s team claiming to have sold 1.2
million tons of rice to China in 2013 but instead having sold the rice locally;
the China-based company that appeared to buy the rice in fact sold it
back to a Thai rice trading company.This follows the January impeachment of the
former Prime Minister, Yingluck.
The
first impeachment hearing for Boonsong is scheduled to take place on June 29,
2015. Boonsong's former deputy commerce minister and a former
director-general of the Department of Foreign Trade were also banned from
office, according to Reuters.
Oryza U.S. Rough Rice Recap - Quiet Market as Buyer and Sellers Standoff on
Prices
May 08, 2015
The
U.S. cash market was quiet today as most sellers remain uninterested in selling
at the levels where buyers have interest while buyers see little reason to
change their prices ideas given the supply situation.Analysts contend that the
standoff between buyers and sellers will likely continue without fresh demand
as most buyers will stay on the sidelines especially given the breakneck pace
farmers have been planting the past two weeks while most sellers will continue
to hold out on selling until prices cover their cost of production.
West Africa Rice Production Projected to Grow, Imports to Remain Stable,
Says USDA Post
May 08, 2015
Rice production in
2014/15 for ten nations in West Africa (Burkina Faso, Cote d'Ivoire, Gambia,
Guinea-Conarkry, Mali, Mauritania, Niger, Senegal, and Togo) is expected to
reach 5.1 million tons, up 4.3% from the previous year, the USDA Post reports
in its recent 2015
Update West Africa Rice Annual. However,
imports are expected to remain stable at about 3.6 million tons in
2014/15.Looking further out to 2015/16, the USDA Post expects production to
increase 2.8% y/y with rice imports again stable.
Weekly Recap: Thailand Leads Global Rice
Quotes Lower
May 08, 2015
The
Oryza White Rice Index (WRI), a weighted average of global white rice export
quotes, ended the week at about $406 per ton, down about $2 per ton from a week
ago, down about $6 per ton from a month ago and down about $44 per ton from a
year ago.The UN’s Food and Agriculture Organization (FAO) projects that in
2015-16 higher rice utilization will surpass higher production and lead to
lower ending stocks and a lower stocks-to-use ratio worldwide, for the second
year in a row.
Thailand
Thailand 5% broken
rice is today shown at about $375 per ton, down about $10 per ton from a week
ago, down about $15 per ton from a month ago, unchanged from a year ago.
The Economic
Minister has agreed to distribute coupons or cards to rice farmers, allowing
them to purchase seed and fertilizer at discounted prices.
The USDA Post forecasts
that Thailand will export about 11 million tons of rice in 2015, with exports
accelerating in the second half of the year due to sales of government
stocks. However, rice exports there still face an uphill battle on export
price competition.
Amid allegations of
corruption in the former Thai government’s rice mortgage scheme, the Thai
junta’s National Legislative Assembly voted to impeach the former Commerce
Minister Boonsong and ban him from political office for five years.
India
India 5% broken rice
is today shown at about $375 per ton, up about $5 per ton from a week ago, down
about $5 per ton from a month ago and down about $45 per ton from a year ago.
Average wholesale
rice prices in April stand at Rs. 2,760 per ton, up slightly from the previous
month but down about 8% from April of 2014.
The upcoming monsoon
season may bring insufficient rains, potentially reducing rice production,
according to the USDA Post.
Planting for the
main rice crop begins this week.
Vietnam
Vietnam 5% broken
rice is today shown at about $355 per ton, down about $5 per ton from a week
ago, down about $10 per ton from a month ago and down about $35 per ton from a
year ago.
Pakistan
Pakistan 5% broken
rice is today shown at about $380 per ton, unchanged from a week ago, up about
$15 per ton from a month ago and down about $40 per ton from a year ago.
Central & South America
Brazil 5%
broken rice is today shown at about $550 per ton, unchanged from a week and a
month ago and down about $115 per ton from a year ago. The Brazilian paddy rice
index maintained by CEPEA reached around 35.58 real per 50 kilograms as of May
4, 2015, down about 0.56% from around 35.78 real per 50 kilograms recorded on
April 27, 2015. In terms of USD per ton, the index reached around $231.43
per ton on May 4, 2015, down about 5.5% from around $245 per ton recorded on
April 27, 2015.
Five percent broken
rice from Uruguay and Argentina is today shown at about $565 per ton, unchanged from a
week ago, down about $10 per ton from a month ago and down about $60 per ton
from a year ago.
Cuba’s
main rice crop, which accounts for about 60-70% of the nation’s rice
production, is typically planted between March and July and this year there are
concerns that water supplies are insufficient. In a GIEWS Country Brief,
FAO reports that “Sowing operations are already reported to have been hindered
by limited supplies of water in major reservoirs, particularly over the
eastern-most provinces of the country.”
U.S.
U.S. 4% broken rice
is today shown at about $485 per ton, unchanged from a week and a month ago and
down about $100 per ton from a year ago.
Chicago rough rice
futures for July delivery dropped steadily this week, opening at $10.205 per
cwt (about $225 per ton) on Monday and reaching a high of $10.435 per cwt
(about $230 per ton) that same day. Futures then dropped throughout the
week, reaching a low of $9.680 per cwt (about $213 per ton) before closing at
$9.725 per cwt (about $214 per ton) on Friday.
The U.S. cash market
was mostly unchanged this week, although it dropped slightly in response to
rumors the Iraqi Grain Board would cancel its most recent tender.
Other Markets
Cambodia 5% broken rice is today shown at about $435 per ton, unchanged from a
week ago, down about $5 per ton from a month and a year ago.
The decline of the
euro against the dollar is making European rice more competitive. Sales and exports are
recovering, making trade protection less likely.
The Nigeria Customs Service and Nigerian rice importers are in a
standoff over N20 billion (about $100 million) in unpaid rice import
duties. More than likely, the duties will not be paid in full.
Rice production in
2014/15 for ten nations in West Africa (Burkina Faso, Cote d'Ivoire, Gambia, Guinea-Conarkry,
Mali, Mauritania, Niger, Senegal, and Togo) is expected to reach 5.1 million
tons, up 4.3% from the previous year, the USDA Post reports in its recent 2015
Update West Africa Rice Annual. However, imports are expected to remain
stable at about 3.6 million tons in 2014/15.
The main rice crop in
Cuba is facing water
shortages that will negatively impact planting and yields, according to the
UN’s FAO.
Indonesia has rice stockpiles for six to seven months but may
consider rice imports, depending on domestic production, in June or July.
South Korea’s state-run Agro Fisheries & Food Trade Corporation
bought 75,378 tons of non-glutinous brown and milled rice in a tender.
India Main Crop Paddy Rice Planting Underway
May 08, 2015
May
8 marks the first week in India’s planting of its main rice crop. This week,
plantings stand at 130,000 hectares, down from 138,000 hectares May 8 2014, and
down from 188,000 hectares the same week in 2013 and 226,000 hectares in the
same week of 2012.Main crop rice planting has not actually been declining in
recent years, but it has been slower to start. Past data shows that by week 16
planting over the last four years has evened out, reaching about 33 million
hectares. Recent wet weather may be to blame for this year’s seemingly
slow start. As of late April, India’s pre-monsoon rainfall was 72% above
normal.
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