Italian First Prime Minister's Diary Highlights Importance of Cavour Canal
for Rice Farming
Oct 29, 2015
The
old personal diary of Italy's former Prime Minister Count Camillo Benso di
Cavour, which was reportedly written by the Prime Minister himself between 1835
and 1838, shows the importance of Cavour canal to rice farming in the
country.The canal was built to support rice farming. It originates from the Po
in Chivasso, near Turin, and discharging ends in Ticino in the municipality of
Galliate, in the heart of rice growing area. The canal was named after Italy's
first Prime Minister who was a rice grower near Vercelli. The discovery of the
diary is an evidence for carrying on further study on the Cavour canal.
The
diary, which was originally kept in the house of Cavour was later donated to
the House by Ainardo Cavour (son of Cavour's brother Gustavo). However, it was
said to be missing since 1912. Now, it has been discovered in the library
"Il cartiglio” in Turin.
Asian Rice Export Quotes Remain Unchanged Today
Oct 29, 2015
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
Oryza CBOT Rough Rice Futures Recap - Chicago Rough Rice Futures Make
Afternoon Reversal to End Five-Session Losing Streak; Wheat Rallies on Weather
Concerns
Oct 30, 2015
Chicago
rough rice futures for Jan delivery settled 13.5 cents per cwt (about $3 per
ton) higher at $11.820 per cwt (about $261 per ton). The other grains finished
the day mostly higher; Soybeans closed about 0.3% lower at $8.8025 per bushel;
wheat finished about 1.8% higher at $5.1500 per bushel, and corn finished the
day about 1.1% higher at $3.8000 per bushel.
U.S.
stocks traded lower Thursday, following the prior day's rally, as investors
weighed the possibility of a December rate hike and eyed earnings. The Federal
Reserve issued a post-meeting statement Wednesday that was more hawkish than
many expected. In the statement, the central bank downplayed September's
concerns about impact from global growth and specifically noted it will be
looking for progress in employment and labor when considering whether to raise
rates at its December meeting. The specific mention of the Fed's next meeting
immediately triggered a significant move up in market expectations for a rate
hike this year. Some market analysts do not see enough economic support for the
Fed to raise rates later this year. In economic news, third-quarter GDP showed
an annual rate of 1.5%, slightly missing expectations and below the
second-quarter's 3.9%. Weekly jobless claims edged higher to 260,000. In
Europe, the pan-European Stoxx 600 index ended a touch lower Thursday. In Asia,
Japan's Nikkei finished 0.17% higher. In afternoon trade, the Dow Jones
Industrial Average declined 64 points, or 0.36%, at 17,715. The S&P 500
traded down 6 points, or 0.28%, at 2,084, with utilities leading eight sectors
lower and health care and energy the only advancers. The Nasdaq traded down 28
points, or 0.56%, at 5,067. Gold is trading about 2.5% lower, crude oil is seen
trading about 0.2% lower, and the U.S. dollar is seen trading about 0.5% lower
about 2:15pm Chicago time.
Wednesday, there were
2,309 contracts traded, down from 3,190 contracts traded on Tuesday. Open
interest – the number of contracts outstanding – on Wednesday decreased by 180
contracts to 12,567.
Typhoon Koppu Damages 360,000 Tons of Paddy in Philippines, Says NFA
Official
Oct 29, 2015
Typhoon Koppu, which
hit the Philippines' Luzon region last week, has reportedly resulted in a loss
of around 360,000 tons of paddy, Bloomberg quoted the Deputy Administrator of
the National Food Authority (NFA).
The official noted
that the storm hit the region during the harvest time. The Philippine Food
Council met to discuss the rice damages caused by the typhoon.
The country is already
estimating this year's paddy rice output to decline significantly due to the
extending drought conditions brought about by the El Nino weather phenomenon.
The drought conditions are expected to continue till May 2016. The government
is planning to help farmers by providing drought-resistant paddy varieties and
price-support mechanisms.
Last week, a report by
the Philippines Agriculture Ministry noted that about 463,692 tons of rice
worth 7.09 billion pesos (around $152 million) have been damaged by the Typhoon
Koppu.
The National Food Authority (NFA)
Council is likely to authorize imports of another one million tons. It has
already approved for 1.8 million tons of rice imports this year and 500,000
tons in the first quarter of 2016.
۔"
Taiwan Imports 63% of 2015 U.S. Rice CSQ by October 22, 2105; Says USDA
Post
Oct 29, 2015
Taiwan
has completed tenders for 40,750 tons or about 63% of the 2015 U.S. rice
country specific quota (CSQ) of 64,634 tons, according to the USDA Post. The
Simultaneous-Buy and Sell (SBS) quota of 35,600 tons for the year is
complete.On October 22, Taiwan completed a normal tender for 4,000 tons of
short-grain brown rice for delivery by March 31, 2016. The tender was
successfully awarded to two successful bidders each 2,000 tons at NT$22,477
(around $693.52) per ton and NT$23,590 (around $727.86) per ton.
Taiwan
is understood to have announced tender schedules for 9,000 tons of U.S.-origin
long grain brown rice for delivery by April 30, 2016 on October 27, 2015; and
for 4,000 tons of U.S.-origin medium or short grain brown rice for delivery by
May 31, 2016 on October 29, 2015.
IGC Forecasts 2015-16 Global Rice Production to Decline About 1% from
Previous Year
Oct 29, 2015
The International
Grains Council (IGC) forecasts 2015-16 global rice production
at around 474 tons, down about 1% from an estimated 478 million tons in
2014-15, and down from its previous estimate of 477 million tons.
The IGC forecasts
2015-16 global rice trade at around 42 million tons, unchanged
from the previous year's 42 million tons as well as its previous estimate of
around 42 million tons.
The agency forecasts
2015 global rice consumption to increase about 1% to around
487 million tons from an estimated 483 million tons last year and slightly down
from its previous estimate of around 488 million tons.
The IGC forecasts global
rice ending stocks at around 94 million tons in 2015-16, down about 1%
from an estimated 107 million tons in 2014-15 and about 1 million tons below
its previous estimate of around 95 million tons.
In its October 2015
Rice Outlook report, USDA also forecasted 2015-16 global rice production
(milled basis) at around 474 million tons, down about 1% from last year due to
an expected decline in acreage as well as decline in average yields, which are
likely to be affected by adverse weather conditions. It forecasted 2015 global
rice trade at around 42.4 million tons, down 2% from an estimated 43.2 million
tons in 2014
Government Agrees to Ban Use of Glyphosate Pesticide in Agriculture
Oct 29, 2015
The
Italian government has reportedly agreed to ban the use of 'glyphosate'
pesticide in agriculture as it is considered as carcinogen by the World Health
Organization.The government took the decision following protests by a new
political opposition movement 5Stars, led by the Italian comedian Beppe
Grillo.Earlier, the 5Stars movement urged the government to it mandatory to
indicate the label of identity showing not only the amount of active
ingredients but of all the other substances. Such an indication is said to ensure
that all substances placed on the market are gradually included in the
monitoring programs.The movement stakeholders are expecting the government to
implement the ban at the earliest.
Global
Rice Quotes
October 29th, 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 Oryza U.S. Rough Rice Recap -
Prices Rebound after Weekly Export Sales Hit Marketing Year High
Oct 30, 2015
The U.S. cash market
was firmer today after the USDA reported that U.S. weekly export sales hit a marketing
year high.
Analyst note that this
will likely be the catalyst for higher prices however some analysts have
questioned whether exporters have delayed reporting sales in order to make the
market appear more bearish than it is.
Today, the USDA reported
that cumulative net export sales for the week that ended on October 22nd,
totaled 112,600 tons, an increase of 68% from the previous week and
considerably higher than the prior 4-week average.
Increases were
reported for the following destinations including: 22,400 tons to Costa Rica,
20,900 ton to Mexico, 16,000 tons to Honduras, 13,500 tons to Haiti, and 12,400
tons to Japan.
U.S. rice exporters shipped 78,300
tons, an increase of 29% from the previous week and 19% higher than the prior
4-week average. Increases were reported for the following destinations
including: 32,000 tons to Iran, 18,500 tons to Haiti, 13,000 tons to Japan,
3,500 tons to Mexico, and 2,700 tons to Canada
Thai Supreme Court to Begin Witness Testimony in Former Prime Minister's
Rice Trial on January 15, 2016
Oct 29, 2015
Thailand's Supreme
Court's Criminal Division for Holders of Political Positions is to begin
examination of witnesses in the trial of the former Prime Minister Yingluck
Shinawatra on January 15, 2016, according to local sources.
The Court has today
finalized the number of witnesses on both prosecution and defence sides.
On the prosecution
side, it will allow 14 witnesses, of 17 in the list, to testify. It has kept on
hold the decision whether to allow the remaining three prosecution witnesses to
testify. On the defence side, the Court will allow 42 of the 43 witnesses, in
the list, to testify. It will decide later whether to allow the remaining one
witness to testify.
The Court will examine
prosecution witnesses in five hearings - January 15, February 17,
February 26, March 4 and March 23, 2016. It will examine defence witnesses in
16 hearings - April 1, April 22, May 13, May 18, June 17, June 24, July 8, July
22, August 5, August 19, September 9, September 23, October 7, October 21,
November 4 and November 18, 2016.
The former Prime
Minister is facing charges of dereliction of duty in preventing multi-billion
dollar graft in running the controversial rice pledging scheme introduced by
her government in October 2011. The scheme is estimated to have caused losses
to the extent of about 500 billion baht (around $14 billion) to the government.
If proved guilty in the present case, she may have to face imprisonment for 10
years, according to local sources.
Rice Utilization in Japan's Feed Industry Crosses One Million Tons in First
Eleven Months of MY 2014-15, Says USDA Post
Oct 29, 2015
Rice utilization in
Japan's feed industry has first time crossed one million tons, according to the
USDA Post.
The Post reports that
rice utilization for feed in the first eleven months of MY 2014-15 (October -
September) reached around 1.068 million tons from around 732,893 tons in MY
2013-14.
The Ministry of
Agriculture, Forestry and Fisheries (MAFF) has been strongly encouraging to use
rice for feed. The Post expects the increasing trend for rice utilization in
feed to continue in MY 2015-15 as well as the domestic production of rice for
feed more than doubled to 421,077 tons in 2015 from the previous year. The Post
also reports that rice for feed is being sold to feed millers at a price
equivalent to that of imported corn.
Meanwhile, utilization
of corn, sorghum and wheat has declined compared to the previous year.
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