In This Issue:

• Market Update: Rice Farmers Making Planting Decisions, Large Crop Anticipated
• Washington, D.C. Update
• USRPA Welcomes New USDA Marketing Specialist
• Missouri Rice Council Visits State Capitol
• Stoesser Scholar in Washington by Gayla Rose
• Missouri Rice Annual Meeting: Tuesday, February 27
• Experience RMTC's Networking Opportunities 
• Photo from Rice Country

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Market Update: Rice Farmers Making Planting Decisions, Large Crop Anticipated

The market looks much like it did last week — which is great news! Exports continue to race ahead of last year, prices on the ground are firm, and expectations for a crop above 3 million acres for next year remain attainable. Despite the large increase, medium grain acres in the southern states are expected to drop because California is coming back in full force of its historical production. Reports from the West Coast indicate that without a late weather event that would initiate preventative planting, another crop over 500,000 acres is all but guaranteed. With planting decisions in the south being made at the moment, California farmers have until June 1 to plant. It would appear that long grain will be the safer play in the coming season, with the hope that growing conditions and quality will improve.

Cash prices have remained firm as rice in first hands is dwindling in some regions. Prices in Texas punctuate this point where prices are as high as $19/cwt, but largely because supply is running so low for spot market purchases. Louisiana is reporting at just over $18.50/cwt, while Mississippi, Arkansas, and Missouri are all at $18.25/cwt.

In Asia, the price correction in Thailand continues with reports now pegging prices from the origin just below $620 pmt. Vietnam remains more competitive at prices closer to $615 pmt, but the convergence is expected and welcomed; it was strange seeing such a gap between the two countries, and even more so with India out of the market.

The futures market was active this week, with average daily volume jumping 172% to 2,348. Open interest was sideways at 12,133 for a 1.87% increase.

Washington, D.C. Update

Senators Boozman and Booker Call for Release of Food Aid

On Wednesday, Senators John Boozman (D-AR) and Cory Booker (D-NJ) wrote a letter to Secretary of Agriculture Tom Vilsack and USAID Administrator Samantha Power expressing concern over delays in the emergency purchase and shipment of in-kind global food assistance. Last fall, USDA announced it would distribute $1 billion to address global hunger; however, no additional action has been announced since then. In the letter, the Senators noted that there is no shortage of need and called on USDA and USAID to finalize their plans to administer this funding. A copy of the letter can be found here.

USRPA Welcomes New USDA Marketing Specialist

USRPA is pleased to welcome Colby Branch as the new Marketing Specialist for USDA-FAS. Colby brings a wealth of experience, most recently serving as the Director for Agricultural Affairs for the Office of the US Trade Representative. We look forward to working with Colby in promoting and advocating for U.S. rice around the world.

Missouri Rice Council Visits State Capitol

with Lieutenant Governor Mike Kehoe

Members of the Missouri Rice Council had a productive series of meetings at the State Capitol yesterday, culminating in Senator Jason Bean's exceptional Taste of the South event. The council is grateful to have such a great delegation representing southeast Missouri in the Missouri legislature, championing the interests of agriculture.

with Senator Jason Bean

with Representative Jamie Burger

Stoesser Scholar in Washington by Gayla Rose

The US Rice Producers Association (USRPA) amplifies farmers' voices, while the Ray Stoesser Memorial Scholarship champions the future of agriculture. The USRPA's commitment to nurturing the next generation of agriculture is commendable, ensuring the longevity of America's rice industry in both national and international markets.

Being awarded the Ray Stoesser Memorial Scholarship stands as my proudest achievement and greatest honor thus far. To me, it was not just a scholarship but a pivotal moment that transformed my life. The shift from my previous goals and aspirations to the current ones stems from my time as a scholar with the USRPA, leading me onto a new career path and igniting a fervor for advocating for the rice industry's future.

I may be partial, but I hold firm that the U.S. rice industry comprises the most resilient, ambitious, and devoted individuals I've encountered. Despite the challenges of farming in today's economy, rice farmers persist in nourishing our nation amidst adversity. Beyond farming, many have remarkable stories of accomplishments outside the agricultural realm, from establishing seed companies to holding leadership roles in various organizations, exemplifying the inspirational spirit of USRPA farmers.



My time in Washington exceeded my expectations, transcending a mere advocacy visit to Capitol Hill. It provided invaluable insights not only into rice industry challenges but also the unwavering dedication of those safeguarding its future. As a part of the upcoming generation in agriculture, it is a privilege to be surrounded by farmers who are deeply passionate about their craft and the purpose behind it.

USRPA is extremely proud to have had Gayla on this trip and appreciates all the hard work she has dedicated to advocating for our farmers.

Missouri Rice Annual Meeting: Tuesday, February 27

Experience RMTC's Networking Opportunities

Photo from Rice Country

"The end of a beautiful day..." Photo shared by Meredith Stoesser, Raywood, TX.

Send us your Rice Country photos or videos on Facebook, Instagram, or via email!

February 27, 2024

Missouri Rice Council Annual Meeting & 40th Anniversary Celebration

Poplar Bluff, MO

More Information

June 4 - 6, 2024

Rice Market & Technology Convention

Cancun, Mexico

Registration

25722 Kingsland Blvd., Suite 102

Katy, TX 77494

p. (713) 974-7423

e. info@usriceproducers.com

usriceproducers.com

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