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OFFSHORE QUOTES
Thailand Vietnam India Pakistan Uru. Arg. Brazil
100%B $485.00 5% $470.00 Export ban, MEP $900
5% $465.00 5% N/A 5% $490.00 $515.00 $515.00
10% $460.00 10% $460.00 10% N/A 10% no quote $505.00 $505.00
15% $455.00 15% $450.00 15% N/A 15% no quote no quote no quote
25% $445.00 25% $430.00 25% N/A 25% $440.00
Parb. 5% N/A Parb 5% $520.00 $480.00
Brokens $410.00 Brokens $410.00 Var. 1121 $1350 Parb 15%* $500.00 Brokens
Parb. 100B sorted $490.00 MEP-5% $490.00 Basmati Brokens $400.00 $385.00
Thai Hom Mali $930.00 MEP-25% $470.00 Traditional $1800 Basmati Paddy
Frag. Brokens $465.00 Pusa $1300 S. Kernal $1300.00 $290.00
All prices basis U.S. dollars per metric ton, F.O.B. vessel, corresponding home port *Bangladesh Specs.
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U.S. Paddy Market Report mostly quiet as load facilities at the river are closed and the industry
is preoccupied with flood issues. Nominal prices are $11.11 per cwt
Texas - The market is mostly quiet. Buyers’ ideas for L/G are $5.75- delivered mill with offers at $11.11 FOB farm.
$6.75 per cwt over loan depending on variety. Unlike Arkansas,
Texas continues to suffer drought conditions which could limit the California - 2010 and 2011 Calrose M/G traded this past week at
second crop. $14.00 per cwt over loan.
Louisiana - Long grain bids are unchanged at $11.50 per cwt FOB
Reflective Prices (all basis per cwt FOB country, 2010 Crop)
farm for both old and new crop.
Texas Louisianna Mid-South California
Mid South - More rain! The date for filing claims on crop insurance Long grain $12.25-13.25 $11.50 $10.50b/11.11a *
is approaching in the next few days and with many fields still under
Med Grain * 14.50 new crop $17.25 $20.50
water, it is likely that growers in those areas will file for benefits
and will not plant this year. It is still too early to determine with L/G is #2 55/70, M/G is #2 58/69 (California #1)
any accuracy just how many acres that will be. The cash market is * - These areas do not have sufficient supplies of this type to quote.
U.S. Report prices. Since then, those statistics have been reversing:
April 20 milled rice exports were 14% ahead of last year.
April 27 - 13%
U.S. GULF, MERCOSUR, & FUTURES This week - 12%
Given the quiet nature of the market offshore, all the focus seems Our production numbers for Mercosur are unchanged as
to be on the flooding in the Mississippi Delta and the prognosis for follows (basis paddy):
planting the balance of the crop in the mid South, which is about Brazil -- 13.4 MMT
18-20% of the projected acreage according to USDA’s latest crop Argentina -- 1.7 MMT
progress report. With any luck with the weather, and that is the Uruguay -- 1.5 MMT
key, we anticipate the crop in Arkansas could still reach the range Export activity has been quite brisk with most of the mills in
of 1.1-1.2 million acres...but it needs to stop raining. Over the the region booked for June and into July. We look for total exports
weekend, there was more rain throughout America’s heartland, in the region to be in the 3 MMT range. Prices are steady to firm
not to mention numerous devastating tornadoes. And, hurricane within $5-10 of U.S. values.
season is upon us. The weather is obviously what has been driving
the futures market as we witnessed 3-month highs last week. CALIFORNIA, AUSTRALIA & THE “MED”
As far as the cash market is concerned, milled prices are up ever We see no substantive change in the market
so slightly over the past couple of weeks in sympathy for strength here as mills continue to ship against old contracts
in the futures market as well as the cash paddy market account the for Korea, Libya, and Japan, among others in the
aforementioned weather concerns. In my view, they are overdone, Mediterranean.
as offshore demand just does not follow the same path. Prices are mostly sideways with #1-4% still quoted
Long grain paddy barges are bid/offered at $265/285 per at $37 per cwt. bulk FOB mill or $875 CY Oakland.
mt FOB NOLA. For all practical purposes, the river is still not Although the mills are mostly booked thru
navigable, as one can not go from upriver to load port. However, June and into July, they will begin to take some down time
parts of the upper river is moving barges in daylight hours. for repairs, vacation, and fumigation, in addition to
#2-4% is quoted at $525-530 per mt bagged FOB or around compliance with PG&E hours.
$500-510 basis bulk. However, aside from some limited movement In Australia, the harvest has been completed and
to Haiti, export demand is virtually nil. the production numbers seem to be right on the
In our report of April 20, we illustrated the somewhat ironic 800,000 mt basis paddy.
situation whereby the pace of US milled rice exports were ahead of In short, the global medium grain market appears to be
last year account heavy sales at, and before, harvest due to very low quite healthy.
Copyright © 2011 Creed Rice. Co., Inc. All Rights reserved www.creedrice.com
Rice Planted - Selected States -- Week Ending Rice Emerged - Selected States -- Week Ending
May 22, May 15, May 22, 2006- 2010 May 22, May 22, 2006- 2010
State State May 15, 2011
2010 2011 2011 Avg. 2010 2011 Avg.
Arkansas 98 63 84 90 Arkansas 94 50 63 81
California 76 60 75 76 California 14 10 15 37
Louisiana 99 99 99 98 Louisiana 96 97 98 94
Mississippi 97 85 94 93 Mississippi 85 77 84 86
Missouri 100 29 53 92 Missouri 97 21 32 80
Texas 99 95 98 98 Texas 90 80 81 94
6 States 95 69 84 90 6 States 81 53 61 77
Rice Co-Products - Spot market prices basis $ per short ton bulk, FOB mill (very limited supply in the South, except hulls)
Texas Louisiana Arkansas California
Bran: $110-$115 $105 $135 $140-$150
Mill Feed: $45 $35 $60
Ground Hulls: $5 $5 $15
Unground Hulls: $5 $5 $12 $8
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Ph 1.713.782.3260 Fax 1.713.782.4671 www.creedrice.com email: ricecreed@aol.com & creedinc@swbell.net
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