Oryza Overnight Recap – Chicago
Rough Rice Futures Little Changed while Wheat and Corn Continue to Show
Strength
Jun 23, 2015
Chicago rough rice futures for Jul
delivery are currently seen trading 1 cent per cwt (about $0.22 per ton) higher
at $9.855 per cwt (about $217 per ton) during early floor trading in
Chicago. The other grains are seen trading with mixed results; soybeans
are currently seen trading about 0.3% lower, wheat is listed about 1.5% higher
and corn is currently noted about 1.3% higher.U.S. stocks traded mixed on Tuesday as investors
watched domestic data reports for further signs of economic improvement and
remained optimistic on a Greece deal.
The Nasdaq Composite touched a fresh
intraday high after a record close on Monday. However, the index struggled to hold slight gains.
The Russell 2000 extended gains to hit a new high after also closing at a
record on Monday. The
morning's economic data was mixed, with durable goods falling more than
expected and the initial read on U.S. PMI the lowest since October 2013.
Anticipation of resolution in the Greece debt crisis helped Japan's blue-chip
Nikkei index hit a 15-year high and supported broad gains in European stocks.
The European Central Bank on Tuesday lifted the
ceiling on emergency liquidity to Greek banks for a second time in two days,
Reuters cited a banking source as saying. The Dow Jones Industrial Average
traded up 42 points, or 0.24 percent, at 18,162.32. The S&P 500 traded up 4
points, or 0.18%, at 2,126, with telecommunications leading seven sectors
higher and utilities the greatest laggard. The Nasdaq traded up 2 points, or
0.04%, at 5,156. Gold is currently trading about 0.5% lower, crude oil is seen
trading about 1% lower, and the U.S. dollar is currently trading about
1.2% higher at 9:00am Chicago
time.
Thai Agriculture Minister Plans
Anti-Drought Measures for Rice Farmers
Jun 23, 2015
Thailand's Agriculture Minister
again requested the rice farmers to suspend the main crop rice planting in two
million rai (around 320,000 hectares) land in the Chao Phraya River Basin of
the Central Region until normal rainfall resumes as water in the reservoirs has
reached exceptionally low levels, according to local sources.The Minister noted
that the government cannot honour the farmers' demands to pay a compensation of
about 1,000 baht per rai (around $185 per hectare) to suspend rice planting. He
noted that the government is requesting the farmers to delay rice planting only
by two months, and the two-month delay in income would not entitle them for a
compensation.
He however said that he would
propose a package of measures to assist farmers in the economic cabinet meeting
next week.The measures reportedly include providing farming costs to famers
delaying rice planting; suspending interest collection until new crops produce
yield and generate revenues for farmers; providing water to about 4 million rai
(around 640,000 hectares), including 3.4 million rai (about 544,000 hectares)
in which rice is already planted and 600,000 rai (around 96,000 hectares) in
which alternative crops are being planned; and encourage and support farmers to
grow crops that require less water in the 2 million rai (about 322,000
hectares) land.
Brazil Paddy Rice Index Declines
Slightly from Last Week
Jun 23, 2015
The Brazilian paddy rice index maintained by CEPEA reached around 33.69 real
per 50 kilograms as of June 22, 2015, down about 0.06% from around 33.71 real
per 50 kilograms recorded on June 15, 2015.
In terms of USD per ton, the index reached around $219 per ton on June 22,
2015, up about 1% from around $217 per ton recorded on June 15, 2015.
Global Rice Quotes
June
23rd, 2015
Long grain white rice - high quality
Thailand
100% B grade 375-385 ↔
Vietnam
5% broken 345-355 ↓
India
5% broken 385-395 ↔
Pakistan
5% broken 385-395 ↔
Myanmar
5% broken 415-425 ↔
Cambodia
5% broken 430-440 ↔
U.S.
4% broken 450-460 ↔
Uruguay
5% broken 565-575 ↔
Argentina
5% broken 555-565 ↔
Long grain white rice - low quality
Thailand
25% broken 345-355 ↔
Vietnam
25% broken 325-335 ↓
Pakistan
25% broken 340-350 ↔
Cambodia
25% broken 410-420 ↔
India
25% broken 350-360 ↔
U.S.
15% broken 440-450 ↔
Long grain parboiled rice
Thailand
parboiled 100% stxd 365-375 ↔
Pakistan
parboiled 5% broken stxd 395-405 ↔
India
parboiled 5% broken stxd 365-375
↔
U.S.
parboiled 4% broken 555-565 ↔
Brazil
parboiled 5% broken 570-580 ↔
Uruguay
parboiled 5% broken NQ ↔
Long grain fragrant rice
Thailand
Hommali 92% 815-825 ↔
Vietnam
Jasmine 480-490 ↑
India
basmati 2% broken NQ ↔
Pakistan
basmati 2% broken NQ ↔
Cambodia
Phka Mails 820-830 ↔
Brokens
Thailand
A1 Super 315-325 ↔
Vietnam
100% broken 310-320 ↔
Pakistan
100% broken stxd 285-305 ↔
Cambodia
A1 Super 350-360 ↔
India
100% broken stxd 280-290 ↔
Egypt
medium grain brokens NQ ↔
U.S.
pet food 350-360 ↔
Brazil
half grain NQ ↔
All
prices USD per ton, FOB vessel, oryza.com
Mauritius Buys 6,000 Tons of
Long-Grain White Rice from India
Jun 23, 2015
The state purchasing agency in Mauritius has purchased 6,000 tons of long-grain
white rice from India in a tender (for same amount of rice) that closed on June
3. 2015, Reuters quoted European traders.
The agency reportedly purchased 4,500 tons of rice at $389.90 per ton
(c&f) and 1,500 tons at $397.00 per ton (c&f), and seeks delivery
between July 1 and September 30, 2015.
Oryza U.S. Rough Rice Recap –
Prices Unchanged ahead of Iraqi Grain Board Tender
Jun 23, 2015
The U.S. cash market was unchanged
with farmers' price ideas holding firm well above buyers' interest and as a
result things were quiet today.Analysts note that many in the industry are
hopeful that the U.S. will be awarded a piece of the latest Iraqi Grain Board
tender; however, there are others who have their doubts.There is growing
concern that if the U.S. does not generate additional export business prices
may have to come off even further to get some moving before new crop is
available.
EU Farmers’ Association Hails
Council Suggestions Regarding Organic Legislation
Jun 23, 2015
The EU farm Ministers Council
has reached an understanding over the EU organic legislation, according to
a news release on the Copa-Cogeca (Association of European farmers and
Agri-cooperatives) website.The Copa-Cogeca President hailed the EU farm
Minister for striking a compromising solution, especially the maintenance of
mixed farms in the region's rice sector. He noted that the suggestions would
improve the European Commission's original proposal in many ways. “This will
allow farmers to gradually develop outlets for all their products and thus
safeguard their farm's viability without being exposed to serious risks.
Moreover, a ban could have deterred farmers from converting to organic farming
or maintaining this specific production method”, he said.
The Chairman of Copa-Cogeca’s
Working Party on Organic Farming added that the decision if implemented would
also ensure that imports will comply with the EU production standards. “This
will help to ensure fairer competition between EU farmers and farmers in non
EU countries whose products can bear the same EU organic logo, and will
maintain consumer confidence," he said."We also invite European
Parliament to work on the basis of the EU Council’s compromise agreement and on
the way to harmonise the approaches taken by the control bodies and
control authorities in case of adventitious contamination”, he added.The
Copa-Cogeca Secretary-General urged the Members of European Parliament (MEPs)
to act quickly as a proper decision would help them make necessary investments
and develop their businesses.
Saline-Tolerant Rice Varieties
Offer Promising Future to Bangladesh Rice Farmers
Jun 23, 2015
In Bangladesh, the negative impact of climate change has
resulted in farmland in turning saline, more so in southern coastal
region—considered as nation's rice bowl. Large acres of land are left fallow
across the country and rice cultivation has decreased substantially because of
salinity.Aid agencies, however, are optimistic about rice varieties that can
naturally tackle salty soil. Bangladesh is a low-lying delta and is vulnerable
to violent storms and floods and protecting agriculture from natural calamities
is critical for agriculture. At the Bangladesh Rice Research Institute
scientists have developed new varieties by crossbreeding rice varieties that
can naturally withstand salty soil.
Though seeds are free for farmers,
many of them were hesitant to adopt. The scientists from Cereal Systems
Initiative for South Asia (CSISA) have been demonstrating to the farmers at the
field the cultivation techniques for the rice varieties in poor soil. Extension
education has been critical in disseminating how to grow rice varieties and in
the past 4 years around 180,000 farmers participated in training programs.
Salinity can be different from adjoining fields, or even within, due to rainfall,
elevation and exposure to salt water from nearby rivers. Based on degrees of
salinity, different types of salt-resistant rice varieties can be cultivated.
The saline-resistant rice varieties have been found effective and have higher
yields and the potential to mitigate salinity’s adverse impacts.
Agricultural
Experts Call for Modern Rice Farming Technologies in Vietnam
Jun 23, 2015
Agricultural experts in Vietnam have
noted that various rice farming technologies in the country are outdated and
urged the government to facilitate restructuring of the rice as well as total
agricultural mechanization in the country, according to local sources.Speaking
at a Ministry conference last week, they noted that though mechanization
happened at various stages of rice production, most of the machinery used is
outdated. An official from the Agriculture Ministry's Department for
Agro-Forestry-Fisheries and Salt Processing noted that tillers used in Vietnam
are of only 1.6 horsepower (HP) per hectares, and are much lower to 4 HP/ha, 10
Hp/ha and 8 Hp/ha in Thailand, Korea and China respectively.
They also noted that there were many
shortcomings in the application of agricultural engineering in the country, and
may projects in this area were ""impractical, inadequate and
uncreative." For instance they said government involvement in the
manufacturing of heavy farm machinery has been meagre and private players have
been restricting to smaller machinery.The Deputy chairman of the Vietnam
Agricultural Engineering Society (VSAE) noted that government policies in this
area are commendable but their implementation is not to a desirable extent. He
added that farmers and enterprises are finding difficult to access financial
assistance to modernize their operations.
The Principal of the Vietnam
National University of Agriculture added that if policies are nit implemented
properly, they will have to continue importing machinery from China and other
countries.
The Deputy Minister of Agriculture
and Rural Development instructed relevant agencies to review and highlight
shortcomings in the mechanization sector to enable the government to be able to
double the level of agricultural mechanization from the current 1.6 Hp/ha to
3.2 HP/ha.
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