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In This Issue:
- Market Update: Rice Farmers Indecisive on 2025 Planting Decisions
- Washington, D.C. Update: Boozman Stresses Economic Relief for Farmers on Senate Floor; New Analysis Adds to Case for Enhanced Farm Bill
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Ray Stoesser Memorial Scholarship Applications: Due TODAY!
- 2025 Western Rice Belt Conference Announced
- International Update: USRPA Participates in Interfer 2024 in Guatemala
- Research Study Opportunity
- RMTC 2025: Early Bird Pricing Ends Soon
- Photo from Rice Country
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Rice Farmers Indecisive on 2025 Planting Decisions | |
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The market has been sleeping off its Thanksgiving turkey hangover, with a consistent market since our last report. There is a bright spot of special note as this week's Export Sales report logged a marketing year high for exports of 99,700 MT, with Nicaragua, Honduras, and Venezuela receiving the lion’s share of the business. We’ve known the business is out there, but seeing it materialize has proven difficult. It’s also worth mentioning that we may see an increase in activity and reports of the ability to ship parboiled into the West African market. This may sound like a long shot given the Indian and Pakistani prices, but there was a time when it was normal for a significant amount of U.S.-parboiled rice to find its home in West Africa. Any form of disappearance is welcomed in the global supply glut, and parboiled rice may be a good outlet given the quality constraints.
On the ground, prices in Missouri, Arkansas, and Mississippi are still resting at $15.25/cwt. Louisiana is looking at $15.50/cwt, and Texas is $15.50-$16.10/cwt. The world market price for Long Grain per the USDA this week sits at $12.75/cwt. Long grain milled prices are beginning to soften after holding steady at $800pmt for months, with most recent reports being closer to $790pmt. An interesting fact to point out is that in the calendar year, the U.S. has officially exported more rice in the first nine months of the year than the whole of 2023.
In the Eastern Hemisphere, India, Thailand, Vietnam, and Pakistan didn’t take a Thanksgiving holiday. Instead, they continued to duke it out over significant buyers like Indonesia, the Philippines, West Africa, and Iraq (yes, Iraq, whom we hope will book more tenders for U.S. long grain in the coming months, albeit at higher prices). India and Pakistan prices are at least consistent on the bottom over the last two weeks around $450-$460pmt, while Viet is just over $520pmt, and Viet is closer to $525pmt. Even in the face of India’s huge supplies, demand has remained strong, which has helped prevent catastrophe in overall rice prices.
The weekly USDA Export Sales report shows net sales of 83,300 MT this week, up noticeably from the previous week and up 15% from the prior 4-week average. Increases primarily for South Korea (30,100 MT), Nicaragua (27,500 MT), Mexico (13,100 MT), Saudi Arabia (8,700 MT), and Japan (4,600 MT), were offset by reductions for Honduras (1,600 MT). Exports of 99,700 MT - a marketing-year high - were up 21% from the previous week and 70% from the prior 4-week average. The destinations were primarily to Nicaragua (27,500 MT), Honduras (24,200 MT), Venezuela (22,100 MT), Saudi Arabia (8,800 MT), and the United Kingdom (8,000 MT).
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Boozman Stresses Economic Assistance Relief for Struggling Farm Families | |
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U.S. Senator John Boozman (R-AR), ranking member of the U.S. Senate Committee on Agriculture, Nutrition, and Forestry, urged Congress to provide emergency economic assistance to agricultural producers facing market losses.
“It’s clear the pain our farm families are living through,” Boozman said in remarks on the Senate floor. “For some producers, this is the second or third consecutive year of negative cash flow. This means many farm families are ending 2024 in the red, unable to pay off this year’s operating loan, unable to get the loan to farm in 2025, and face the reality of being the generation to have lost the family farm due to extreme market conditions beyond their control.”
Increased input costs, high interest rates and depressed commodity prices have created significant challenges for rural America. Boozman has continued calling for federal assistance to support American producers and the industry’s long-term outlook.
“We need to provide producers with the certainty and predictability to be able to go to the bank and have confidence that help is on the way so they can continue farming,” Boozman said.
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New Terrain Analysis Adds to Case for Enhanced Farm Bill; Rice 2025 Crop Revenue Shortfall Forecast at $144 per Acre | |
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A report by Terrain economic analysis this week forecast that “For 2025, the cost of production for major field crops is expected to remain elevated but down marginally from 2024 for all major crops except cotton. Costs are projected to be higher for seed, chemicals, custom operations, repairs and maintenance, and taxes. Lower costs are projected for fertilizers, fuel and electricity, and interest.”
As a result, Terrain forecasts the average cost of production for rice in 2025 to be $1,305 per acre, the average returns to be $1,162 per acre, for an average projected revenue shortfall of $144 per acre. While the cost of production per acre was forecast to be highest for rice among the major field crops, the projected revenue shortfall is highest for cotton at $339 per acre.
The following charts summarize some of these findings by Terrain. You can read the five-page report and review other data here.
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These bleak projections are more evidence that US Rice Producers Association and other farm advocates are using on Capitol Hill to convince Members of Congress of the urgent need to provide assistance to producers for economic losses. Despite the losses confronting many farmers, agriculture champions on the Hill are finding it challenging in the current budget and political environment to drive a consensus to provide the funds necessary for economic relief. USRPA and its representatives in Washington continue to work with champions on the Hill to push for economic assistance before Congress adjourns for the year in two short weeks. | |
2025 Western Rice Belt Conference Announced | |
US Rice Producers Association will once again be among the sponsors of the annual Western Rice Belt Production Conference, scheduled for Wednesday, January 15, 2025, at the El Campo Civic Center. The Rice Conference features a Production Conference for rice producers and industry professionals, as well as a Rice Consumers Seminar for homemakers.
Registration for the conference will begin at 7:30 a.m., with the main program to begin at 8:15 a.m. After a catered lunch, provided by area agribusiness sponsors, the program will conclude around 2:45 p.m.
Topics and speakers will include Kernel Smut Research – Paul Goetze; Current Events in Rice Production – Sam Rustom; LCRA Irrigation Water Update – Kelly Payne; New Herbicide Technology in Rice – Conner Webster; USDA-NCRS Conservation Programs Update – TBA; Pesticide Application using UAV Drones – Dan Martin; Texas Rice Council Report—Tommy Turner; Texas Rice Research Foundation Report—Galen Franz; USA Rice Update – Jamison Cruce; Farm Policy Update – Natalie Graff. The results of the Rice Poster Contest will be announced during the lunch hour by County Extension Agents Lori Garcia and Laura Reyna.
Attendance at the Western Rice Belt Conference is free of charge, thanks to the generous support of sponsors who back the rice industry. The Planning Committee requests that all attendees RSVP by January 8th to help with meal planning.
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USRPA Participates in Interfer 2024 in Guatemala | |
The activities of this trade fair will take place from November 28 to December 23, positioning it once again as a key event for the year-end festivities in Guatemala. The event is organized by Comité Permanente de Exposiciones (Coperex), and this year, Interfer celebrates 53 years of history, consolidating itself as one of the largest and most traditional fairs in the country.
Since its inception, when it was known as the Interfer Christmas Bazaar, it has evolved into a platform that not only promotes local commerce but also strengthens the connection between Guatemalan companies and international markets.
Interfer is not just a commercial space; it is also a place where Guatemalan families can enjoy, share, and find everything they need for year-end celebrations.
With more than 500 stands, visitors will find a wide variety of products, ranging from festive clothing to school supplies. Additionally, the fair provides an ideal environment for shopping, offering a safe and comfortable setting.
"Interfer 2024 is an invitation to revive a tradition that brings families together, promotes culture, and offers unforgettable moments." Gabriela López, " Coperex Assistant Manager.
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USRPA, in collaboration with ARROZGUA, will prepare eight large pots to showcase at Interfer. Pictured above is one of the pots made for the opening night of the park to the public.
Each large pot contains enough food to serve 2,500 free meals, ensuring that a significant number of visitors can enjoy a hearty meal showcasing U.S. rice during their time at Interfer. This initiative highlights the event's commitment to community engagement, providing both nourishment and a sense of togetherness to all attendees.
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🌾 Attention Southern U.S. Farmers!
Researchers at UNC Charlotte are conducting a research study on digital technology adoption in farming, and they need your insights! Share your experiences with digital tools, their effectiveness, and any challenges you've faced.
📝 Survey Details:
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Takes less than 25 minutes.
- Your input will help develop solutions benefiting farmers, the nation, and the environment.
- All responses are confidential.
Have questions? Contact Opeyemi Alabi at oalabi1@charlotte.edu, and Dr. Nadia Najjar (Faculty Advisor) at nadia.najjar@charlotte.edu.
Thank you for helping shape the future of agriculture! 🌱
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RMTC 2025 - Early Bird Pricing Ends Soon | |
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Picture from @andycboettcher at Lissie, TX from the August 2024 harvest.
Send us your Rice Country and harvest time photos or videos on Facebook, Instagram, or via email!
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Food & Agriculture
Regulatory & Policy Roundup
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Thailand: Grain & Feed Update
Thailand’s rice exports in 2024 are expected to reach 9.2 million metric tons, a 2 percent increase from 2023.
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2024 Farm Sector Income Forecast
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January 15, 2025
Annual Western Rice Belt Conference
El Campo, TX
More Information
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January 23, 2025
Southeast Texas Rice Symposium
Winnie, TX
More Information Coming Soon
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January 27 - 28, 2025
28th Annual National Conservation Systems Cotton & Rice Conference
Memphis, TN
More Information
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May 28 - 30, 2025
Rice Market & Technology Convention
Miami, Florida
More Information
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USRPA does not discriminate in its programs on the basis of race, color, national origin, gender identity, sexual orientation, religion, age, disability, political beliefs, or marital/family status. Persons who require alternative means for communication of information (such as Braille, large print, sign language interpreter or translation) should contact USRPA at 713-974-7423. |
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