Oryza U.S. Rough Rice Recap - Prices Dip Slightly With Futures; Farmers
Still Not Selling
Oct 28, 2015
The U.S. cash market was
slightly weaker again today with offers from resellers falling with a futures
market while most farmers remain on the sidelines, unimpressed with the bids
they are seeing this early in the marketing year.
Analysts note that if
farmers were seeing bids at these levels in late spring/early summer of 2016
they would be eager sellers, however selling at these levels today doesn’t make
sense for most farmers without a guaranteed PLC payment.
Results of EU-Funded ERMES Project to be Presented in Spain Conference
Oct 27, 2015
The results of the
EU-funded ERMES project based on Geospatial Information Infrastructures (GII)
will be presented during ESRI Spain conference, which will take place in
Madrid, on November 4-5 2015.
The forum brings
professionals, developers, SMEs and public administration together to share and
discuss latest developments and projects that use or rely on ESRI technology.
ESRI (Environmental Systems Research Institute) is an international supplier of
Geographic Information System (GIS) software, web GIS and geo-database
management applications. ESRI's ArcGIS desktop connects maps, apps and data
users in order to make decisions quickly and intelligently, allowing everyone
to manage maps.
The ERMES project is
coordinated by the Italian Institute for Electromagnetic Sensing of Environment
(CNR-IREA), developed by a consortium composed of partners of four European
countries. It is aimed at developing hi-tech methods for monitoring rice crops
in order to increase yields and encourage sustainable farming. ERMES activities
provide information for both Regional (RRS) and Local (LRS) rice services.
RRS focuses on rice detection, crop monitoring, risk alerting, yield
forecast. On the other hand, LRS involves the production of high-resolution
information on crop condition at farm scale, through analysis of high
resolution EO data and parcel-level crop modelling, the development of tools
for field inspection and recording of farming activities (ERMES Smart-App),
delivering information to the end users, through the ERMES local geo-portal.
Global Standard for Sustainable Rice Cultivation Launched in Philippines
Oct 27, 2015
The Sustainable Rice
Platform (SRP), convened jointly by the International Rice Research Institute
(IRRI) and the United Nations Environmental Program (UNEP) in 2011, has
launched the world's first global standard for sustainable rice cultivation in
Manila today, according to a news release on the IRRI website.
The Standard is a
document consisting of the list of requirements to ensure that rice is produced
in ways that are environment-friendly, profitable to farmers and healthy for
consumers. “The establishment of the standard addresses a long-neglected need
for a globally critical crop and the standard represents a fundamental building
block for developing the application of sustainability and informing policy
formulation,” the Regional Director of the UNEP Asia-Pacific was quoted.
According to the
Standard, rice-producing companies or countries need to fulfil 46 requirements
in farm management, pre-planting, water use, nutrient management, pest
management, harvest and post-harvest, health and safety and labor rights. The
Standard also aims at cutting down the methane emissions by 30%-70% by using
sustainable rice production methods.
The Standard uses a
scoring system, which assigns scores to various aspects of rice cultivation. If
the score is between 10-90, the farmer or food company is "working towards
sustainable rice cultivation", and if the score is between 90-100, they
can be said to be "sustainably cultivating rice" based on the SRP
Standard.
The Standard is
adapted to the needs of the farmers and other agricultural workers, noted the
SRP Chair. “It’s handy, it can be taken to the field and it goes straight to
the detail,” he said.
Since 2011, the SRP
has partnered with several food companies and governments to come up with the
world's best Standard for rice cultivation. The SRP is still in discussion with
governments to scale up the Standard and roll it out by 2017. The initial
launch would help them test the Standard in various countries and several
private companies have committed to test the Standard.
Oryza CBOT Rough Rice Futures Recap - Chicago Rough Rice Futures Remain
Under Pressure from Technical Selling and Lack of Physical Demand
Oct 28, 2015
Chicago rough rice
futures for Jan delivery settled 6 cents per cwt (about $1 per ton) lower at
$11.885 per cwt (about $262 per ton). The other grains finished the day with
mixed results; Soybeans closed about 0.7% higher at $8.9100 per bushel; wheat
finished about 0.1% higher at $5.0925 per bushel, and corn finished the day
about 1.2% lower at $3.8000 per bushel.
U.S. stocks traded
mostly lower Tuesday, under some pressure from economic reports and ahead of
major quarterly earnings. On Tuesday, stocks opened lower, following extended
losses in U.S. stock index futures on a negative read on durable goods orders.
Durable goods orders showed a decline of 1.2% in September, following a
negative read in August. The S&P/Case-Shiller 20-City Composite showed U.S.
home prices rose 5.1% from the year-ago period in August, matching analyst
expectations. The Federal Reserve also begins its two-day meeting Tuesday at
which it is expected to hold off on an interest rate rise. The central bank
releases its post-meeting statement at 2 p.m. ET Wednesday, and it is expected
to leave the door open for the chance of a December rate hike.
Yellen will appear
before a congressional committee on Nov. 4 to take questions on bank
regulation, Reuters reported, citing a Tuesday statement from the head of the House
Financial Services Committee. European stocks traded lower, with the STOXX
Europe 600 off more than half a percent. Asian stocks were mostly lower, with
the Nikkei down nearly 1% and mainland Chinese stocks reversed sharp intraday
losses to close mildly higher. In afternoon trade, the Dow Jones Industrial
Average declined 52 points, or 0.29%, at 17,571. The S&P 500 traded down 11
points, or 0.54%, at 2,060, with energy leading nine sectors lower and health
care the only advancer. The Nasdaq traded down 23 points, or 0.46%, at 5,011.
Gold is trading marginally lower, crude oil is seen trading about 2.4% lower,
and the U.S. dollar is seen trading about 0.1% higher about 1:00pm
Chicago time.
Monday, there were
2,494 contracts traded, down from 2,940 contracts traded on Friday. Open
interest – the number of contracts outstanding – on Monday increased by 443
contracts to 13,087.
Global Rice Quotes
October 27th, 2015
Long grain white rice - high quality
Thailand 100% B grade 360-370
↓
Vietnam 5% broken 370-380
↔
India 5% broken 350-360
↔
Pakistan 5% broken 305-315
↔
Myanmar 5% broken 415-425
↔
Cambodia 5% broken 415-425
↔
U.S. 4% broken 490-510
↔
Uruguay 5% broken 535-545
↔
Argentina 5% broken 530-540
↔
Long grain white rice - low quality
Thailand 25% broken 330-340
↔
Vietnam 25% broken 355-365
↔
Pakistan 25% broken 280-290
↔
Cambodia 25% broken 400-410
↔
India 25% broken 330-340
↔
U.S. 15% broken 500-510
↔
Long grain parboiled rice
Thailand parboiled 100% stxd 360-370 ↔
Pakistan parboiled 5% broken stxd 405-415 ↔
India parboiled 5% broken stxd 340-350 ↔
U.S. parboiled 4% broken 590-610
↔
Brazil parboiled 5% broken 545-555
↔
Uruguay parboiled 5% broken NQ
↔
Long grain fragrant rice
Thailand Hommali 92% 815-825
↔
Vietnam Jasmine 475-485
↔
India basmati 2% broken NQ
↔
Pakistan basmati 2% broken NQ
↔
Cambodia Phka Mails 830-840
↔
Brokens
Thailand A1 Super 305-315
↔
Vietnam 100% broken 305-315
↔
Pakistan 100% broken stxd 275-285
↔
Cambodia A1 Super 355-365
↔
India 100% broken stxd 285-295
↓
Egypt medium grain brokens NQ
↔
U.S. pet food 330-340 ↔
Brazil half grain NQ
↔
All prices USD per ton, FOB vessel, oryza.com
Indonesia May Soon Finalize Rice Imports, Says Bulog Chief
Oct 27, 2015
The Indonesian
government may soon give a green signal for rice imports to arrive in the
country as stocks are depleting and extending dry conditions are likely to affect
local rice output and prices, according to local sources.
The government already
signed an agreement with Vietnam to import one million tons. It is also
reportedly negotiating with Thailand, Myanmar, Pakistan and Cambodia for
importing another 500,000 tons of rice.
The Head of
Indonesia's logistics agency Bulog told reporters that the government would
decide within two weeks over the imports. "If there is no rain by the end
of this week, we will proceed quickly with the import plan. Vietnam has committed
to exporting 1-million tons of rice and we'd like to see the rice stream in as
soon as early November," he said.
The Bulog Chief noted
that the agency is expecting imports to arrive from Vietnam in November.
The President was keen
on achieving self-sufficiency in rice production and avoiding imports. However,
the continuing drought conditions have forced the government to import rice
this year. Analysts have been predicting that Indonesia may need to import
about 1.6 million tons of rice in 2015.
Thailand, India Rice Sellers Lower Some of Their Quotes Today; Other Asian
Quotes Remain Unchanged
Oct 27, 2015
Thailand rice sellers
have lowered their quotes for 100% B rice and fragrant A1 Super rice varieties
by about $5 per ton each to around $360 - $370 per ton and $350 - $360 per ton
respectively today. India rice sellers lowered their quotes for 100% broken ric
variety by about $5 per ton to around $285 - $295 per ton. Other Asian rice
sellers kept their quotes unchanged today.
5% Broken Rice
Thailand 5% rice is
indicated at around $355 - $365 per ton about $15 per ton discount on Vietnam
5% rice shown at around $370 - $380 per ton. India 5% rice is indicated at
around $350 - $360 per ton, about $45 per ton premium on Pakistan 5% rice shown
at around $305 - $315 per ton.
25% Broken
Rice
Thailand 25% rice is
indicated at around $330 - $340 per ton, about $25 per ton discount on Vietnam
25% rice shown at around $355- $365 per ton. India 25% rice is indicated at
around $330 - $340 per ton, about $50 per ton premium on Pakistan 25% rice
shown at around $280 - $290 per ton.
Parboiled Rice
Thailand parboiled
rice is indicated at around $360 - $370 per ton. India parboiled rice is
indicated at around $340 - $350 per ton, about $65 per ton discount to Pakistan
parboiled rice last shown at around $405 - $415 per ton.
100% Broken
Rice
Thailand broken rice,
A1 Super is indicated at around $305 - $315 per ton, at par with Vietnam 100%
broken rice shown at around $305 - $315 per ton. India's 100% broken rice is
shown at around $285 - $295 per ton, about $10 per ton premium on Pakistan
broken sortexed rice shown at around $275 - $285 per ton.
Government of Thailand Allocates $1.13 Billion to Support Rice Farmers
Affected by Drought
Oct 27, 2015
The government of
Thailand has allocated about 40 billion baht (around $1.13 billion) to provide
support measures to rice farmers affected by drought, Reuters quoted a
government spokesman.
The spokesman told
reporters that the government would help rice farmers to prepare for the next
crop by providing credits as well as interest rate reductions. He noted that
the Bank of Agriculture and Agricultural Cooperatives (BAAC) would provide an
interest rate cut for one million families, the government would help co-operatives
and communities collect rice from markets, and the government would also
provide grants for farmers in the drought-affected north and north-east
provinces.
The measures followed
the government's decision to discourage farmers from planting for dry season
crop. Most of the farmers have been expressing dissatisfaction over the
government's decision.
The extending drought conditions
are likely to lower the Thai paddy rice production to around 22.98 million tons
in 2015-16, down about 30% from around 32.62 million tons last year
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