Oryza Overnight Recap – Chicago
Rough Rice Futures Continue to Drift Sideways as Market Lacks Fundamental Price
Direction
Jul
28, 2015
Chicago rough rice futures for Sep delivery are currently seen trading
unchanged at $10.960 per cwt (about $242 per ton) during early floor trading in
Chicago. The other grains are seen trading mixed this morning; soybeans are
currently seen trading about 0.9% higher, wheat is listed about 0.3% higher and
corn is currently noted about 0.2% lower.
U.S. stocks opened higher on Tuesday as investors found encouragement from
some recovery in Chinese stocks and eyed mixed earnings as the Federal Reserve
began its two-day meeting. Stocks attempted to recover from five straight days
of declines that brought the S&P 500 just above its 200-day moving average and
the Dow Jones industrial average to its lowest close in nearly six months on
Monday. China remained in focus, with Shanghai's benchmark stock market closing
down 1.7% in a recovery from an intraday decline of as much as 5%. China's
securities regulator said on Tuesday that it had launched an investigation into
Monday's selloff, when stocks fell more than 8%.While the Nikkei joined the
Shanghai Composite in negative territory, the Hang Seng closed up
0.62%.European stocks traded higher and stock futures rose following the rally
attempt in Asia. The services PMI and consumer confidence come out at 9:45 a.m.
and 10:00 a.m., respectively. The Federal Open Market Committee begins its
two-day meeting Tuesday. No press conference is scheduled at its conclusion
Wednesday afternoon. Gold is currently trading slightly higher, crude oil is
seen trading about 0.2% lower, and the U.S. dollar is currently trading
about 0.4% higher at 8:45am Chicago time.
Brazil Paddy Rice Index Advances
Slightly from Last Week
Jul
28, 2015
The Brazilian paddy rice index maintained by CEPEA reached around 33.71 real
per 50 kilograms as of July 27, 2015, up about 0.30% from around 33.60 real per
50 kilograms recorded on July 20, 2015.
In terms of USD per ton, the index reached around $203 per ton on July 27,
2015, down about 3% from around $209 per ton recorded on July 20, 2015.
Oryza U.S. Rough Rice Recap -
Prices Remain Firm as Sellers Wait on Sidelines; Concerns about High Nighttime
Temps Grow
Jul
28, 2015
The U.S. cash market was seen unchanged today with prices remaining fairly
firm. Most sellers continue to wait on the sidelines expecting prices to
increase even further given the increase in export demand and growing concerns
about new crop.
Analysts note that the crop is making good progress however weather concerns
are beginning to mount. A recent span of night time temperatures that held
above 75 degrees Fahrenheit has brought back memories of the 2010 and 2011
crops which faced similar conditions and also produced a sub optimal crop.
Oryza Afternoon Recap - Chicago
Rough Rice Futures Find Support form Outside Markets as Grain Complex Attempts
to Recover Following Yesterday's Steep Loss
Jul
28, 2015
Chicago rough rice futures for Sep
delivery settled 2 cents per cwt (about $0.44 per ton) higher at $10.980 per
cwt (about $242 per ton). The other grains finished the day higher as prices
attempted to recover from steep losses sustained the previous day; Soybeans
closed about 1.2% higher at $9.4475 per bushel; wheat finished about 1.6%
higher at $5.1075 per bushel, and corn finished the day about 0.5% higher at
$3.8525 per bushel.
U.S. stocks traded higher by nearly
1% or more on Tuesday as investors found encouragement from some recovery in
Chinese stocks and eyed mixed earnings as the Federal Reserve began its two-day
meeting. The Federal Open Market Committee begins its two-day meeting Tuesday.
No press conference is scheduled at its conclusion Wednesday afternoon. The Dow
Jones industrial average traded more than 130 points higher after adding more
than 100 points in late morning trade.
The S&P 500 held higher, while the Nasdaq
Composite attempted to hold in positive territory. Stocks attempted to recover
from five straight days of declines that brought the S&P 500 to just above
its 200-day moving average and the Dow Jones industrial average to its lowest
close in nearly six months on Monday. China remained in focus, with Shanghai's
benchmark stock market closing down 1.7% in a recovery from an intraday decline
of as much as 5%. China's securities regulator said on Tuesday that it had
launched an investigation into Monday's selloff, when stocks fell more than
8%.While the Nikkei joined the Shanghai Composite in negative territory, the
Hang Seng closed up 0.62%.European stocks traded higher and stock futures rose
following the rally attempt in Asia.
In economic news, U.S. consumer confidence for
July came in at 90.9, missing expectations and posting a decline from June's
read of 99.8. The Dow Jones Industrial Average traded up 138 points, or 0.80%,
at 17,579. The S&P 500 traded up 19 points, or 0.94%, at 2,087, with energy
leading nine sectors higher and telecommunications the only decliner. The
Nasdaq traded up 34 points, or 0.68%, at 5,073. Gold is trading about 0.1%
lower, crude oil is seen trading about 1.2% higher, and the U.S. dollar is seen
trading at about 0.2% higher at about 1:15pm Chicago time.
Monday, there were 647 contracts traded, up from 510 contracts traded on
Friday. Open interest – the number of contracts outstanding – on Monday
decreased by 54 contracts to 8,548.
Global Rice Quotes
July 28th, 2015
Long grain white rice - high quality
Thailand 100% B grade 380-390
↔
Vietnam 5% broken 345-355
↔
India 5% broken 385-395
↔
Pakistan 5% broken 370-380
↔
Myanmar 5% broken 400-410
↔
Cambodia 5% broken 425-435
↔
U.S. 4% broken 470-480
↔
Uruguay 5% broken 535-545
↔
Argentina 5% broken 530-540
↔
Long grain white rice - low quality
Thailand 25% broken 350-360
↔
Vietnam 25% broken 325-335
↔
Pakistan 25% broken 330-340
↔
Cambodia 25% broken 410-420
↔
India 25% broken 350-360
↔
U.S. 15% broken 445-455
↔
Long grain parboiled rice
Thailand parboiled 100% stxd 380-390 ↔
Pakistan parboiled 5% broken stxd 415-425 ↔
India parboiled 5% broken stxd 375-385 ↔
U.S. parboiled 4% broken 555-565
↔
Brazil parboiled 5% broken 545-555 ↔
Uruguay parboiled 5% broken NQ ↔
Long grain fragrant rice
Thailand Hommali 92% 865-875
↔
Vietnam Jasmine 485-495
↔
India basmati 2% broken NQ
↔
Pakistan basmati 2% broken NQ ↔
Cambodia Phka Mails 835-845
↔
Brokens
Thailand A1 Super 320-320
↔
Vietnam 100% broken 315-325
↑
Pakistan 100% broken stxd 285-295 ↔
Cambodia A1 Super 350-360
↔
India 100% broken stxd 305-315
↔
Egypt medium grain brokens NQ ↔
U.S. pet food 325-335
↔
Brazil half grain NQ
↔
All prices USD per ton, FOB vessel, oryza.com
Iraq Reported to Have Bought
112,000 Tons of Rice from Argentina, Uruguay
Jul
28, 2015
Iraq has bought 112,000 tons of rice from Argentina and Uruguay, Bloomberg
reports, citing the Iraq Trade Ministry.
Vietnam Rice Sellers Increase
Some of Their Quotes Today; Other Asia Rice Quotes Unchanged
Jul
28, 2015
Vietnam rice sellers increased their quotes for 100% broken rice by about a
$5 per ton to about $315-$325 per ton today. 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
$25 per ton premium on Vietnam 5% rice shown at around $345 - $355 per
ton.
India 5% rice is indicated at around $385 - $395 per ton, about $15 per ton
premium on Pakistan 5% rice shown at around $370 - $380 per ton.
25% Broken Rice
Thailand 25% rice is shown at around $350 - $360 per ton, about a $25 per
ton premium on Vietnam 25% rice shown at around $325- $335 per ton.
India 25% rice is indicated at around $350 - $360, about $20 per ton
premium on Pakistan 25% rice shown at around $330 - $340per ton.
Parboiled Rice
Thailand parboiled rice is indicated at around $380 - $390 per ton.
India parboiled rice is indicated at around $375- $385 per ton, about a $40
per ton discount to Pakistan parboiled rice was last shown at around $415
- $425 per ton.
100% Broken Rice
Thailand broken rice, A1 Super, is indicated at around $320 - $330 per ton,
about $5 per ton from premium on Vietnam 100% broken rice shown at around $315
- $325 per ton, up about a $5 per ton from yesterday.
India's
100% broken rice is shown at around $305 - $315 per ton, about a $20 per ton
premium on Pakistan broken sortexed rice shown at around $285 - $295 per
ton
Russia Rice Production Expected
to Increase in MY2015-16, Says USDA Post
Jul
28, 2015
Milled rice production in Russia is projected to increase to around 700,000
tons in MY2015-16 (Jan-Dec2016), up from an estimated 682,000 tons in
MY2014-15, according to the USDA post. The increase is thanks to higher rice
acreage, expected to rise to 200,000 hectares in MY2015-16 from about 196,000
hectares in MY2014-15.
Russia’s rice import are expected to remain steady at 250,000 tons in
MY2015-16, unchanged from MY2014-15, according to Post. Ending stocks in
MY2015-16 are expected to increase to about 106,000 tons from about 76,000 tons
in MY2014-15. However, Russia’s rice exports are expected to decline to about
160,000 tons in MY2015-16 from about 190,000 tons in MY2014-15.
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