WASDE: U.S. All Rice Supplies Lowered On A Production Decrease,

 

RICE: U.S. 2017/18 all rice supplies are lowered 9.5 million cwt to 261.6 million on a production decrease, which is partially offset by slightly higher imports. Long-grain production is lowered 5.6 million cwt and combined medium- short-grain production is lowered 4.1 million cwt. The production decrease stems from a 123,000 acre reduction in harvested area, reflecting the floods that occurred in Northeast Arkansas and the bootheel of Missouri as well as excessive moisture in California at planting time. Long-grain beginning stocks are raised 3.8 million cwt on a 2.0- million-cwt decrease in both 2016/17 exports and domestic and residual use, which is partially offset by a 0.2-million-cwt decrease in 2016/17 imports. These revisions are offset by changes to medium- and short-grain leaving all rice 2016/17 ending stocks and total use unchanged. Total use for 2017/18 is reduced 8.0 million cwt with reductions to both domestic and residual use and exports leaving 2017/18 ending stocks down 1.5 million. By class, long-grain ending stocks are raised 1.2 million cwt and medium- and short-grain ending stocks are lowered 2.7 million. The 2017/18 all rice season-average farm price is raised $0.80 per cwt at the midpoint to a range of $11.80 to $12.80.