RICE: U.S. 2016/17 rice exports are lowered 2.0 million cwt to 110.0 million. Longgrain milled exports account for the entire reduction and reflect the sales and shipment pace to date. U.S. ending stocks are raised by an equal amount and are the highest since 1985/86. The 2016/17 all rice season-average farm price range is raised $0.10 per cwt at the midpoint to $10.50. The long-grain, and the Other States medium- and short-grain season-average prices are both increased.
Global rice supplies for 2016/17 are raised fractionally this month. World exports are raised 0.5 million tons led by increases for Thailand and India. Global use is raised 0.8 million tons resulting in a 0.8 million ton reduction in the world ending stocks forecast. Global ending stocks are projected to be the largest since 2001/02.
Source : USDA WASDE