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In This Issue:
- Market Update: Rice Market Outlook for 2025 Unclear
- Washington, D.C. Update
- Nation's Leading Agricultural Educational Conference for Producers is Headed to Memphis, TN
- International Update: USRPA Convenes International Promotions Committee Meeting in Houston
- RMTC 2025: Early Bird Pricing Ends Sunday
- Photo from Rice Country
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Rice Market Outlook for 2025 Unclear | |
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The market continues to find footing as we head into the Christmas season. Last week offered record export sales numbers, which was welcomed news to all segments of the industry. Prices and cash activity continue to be moving sideways, as the psychology of the market seems to be on auto-pilot until the new year.
A recent Grain: World Markets and Trade report from the USDA does show that global rice production is forecast down on decreases for the Philippines (typhoons) and Nepal. These losses more than offset the outsized Brazil crop, and growing exports from Cambodia, Vietnam, and Thailand continue to challenge the newly exportable Indian supplies. Global consumption and stocks are forecast slightly lower.
Since the November WASDE, and frankly since India entered the market in October, the chart shows a steady decline in prices for Pakistan, Thailand, and Vietnam. The U.S. and Uruguay have remained insulated, but cheap rice from Pakistan is beginning to puncture the barrier into the Western Hemisphere.
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We have featured in this newsletter how critical it is that the United States can retain its market share in Haiti. So far this year, over 10% of the total U.S. rice exports were shipped to Haiti, the largest destination for U.S. long grain milled rice. As recently as 2019, the U.S. supplied 95% of Haiti’s total rice imports. However, since 2023, competition from Pakistan has increased, reducing US market share to 71% YTD (Jan.-Sept. 2024). This is a disturbing trend, as Haiti’s economic situation doesn’t look to be improving, and to compete with Pakistan would mean continued below break-even levels to the U.S. rice producer. It’s a good thing that paddy shipments to Mexico remain resilient in the face of so much global uncertainty. | |
Congress Continues Work on Agriculture Assistance and Other End-of-Year Priorities | |
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Throughout this week, Congress continued its work on the outstanding work needed to be completed before the end of 2024. The House passed the annual defense authorization bill, which has now been sent to the Senate with an expectation it will pass sometime next week. Still on the to do list is pass a continuing resolution (CR) to avoid a government shutdown. The current CR expires on Friday, December 20.
Congress also continues its work to pass a farm bill extension, which will possibly ride along the CR. Another key item that remains in play is funding for assistance to those impacted by hurricanes and other natural disasters, including for agricultural producers. With the cost of production above the market prices received by producers of rice, soybeans, cotton and other major crops, there are strong concerns in farm country that without financial assistance many producers will not be able to show the positive cash flow necessary to finance and plant a crop in 2025. USRPA continues to support the efforts of champions like Senator John Boozman (R-AR) and House Agriculture Committee Chairman Glenn “GT” Thompson (R-PA) to push for funding for economic assistance for farmers impacted by poor market conditions.
The path forward on these packages remains unclear. As of this writing it has been reported that an agreement has been reached on a “topline” spending amount of $98 billion for a disaster supplemental appropriations bill. But negotiations continue and any final amounts available for agriculture disaster and economic assistance, if any, are of yet unknown. Congress is currently scheduled to recess for the remainder of 2024 on Friday, December 20, when the current funding for the government expires. It is expected that a CR will be passed to avert a government shutdown, and if good intentions and hard work prevail, year-end legislation may include a farm bill extension and some financial relief to help America’s producers to continue to farm into 2025.
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Nation's Leading Agricultural Educational Conference for Producers is Headed to Memphis, Tenn. | |
The 28th Annual National Conservation Systems Cotton & Rice Conference, The Southern Soybean & Corn Conference, the Delta States Irrigation Conference and the Southern Precision Ag Conference are headed to East Memphis Hilton Conference Center. The conferences are sponsored by Cotton Incorporated and U.S. Rice Producers Association.
Producers mark your calendar for January 27th & 28th, 2025 for what will be the most important conference to attend in 2025, if you want to increase your yields and cut your costs.
Farmers will be able to choose from more than 115 different presentations over two days by Researchers, Farmers and Certified Crop Advisors from 13 States across the Southern U.S., and Washington D.C. A total of 80 Researchers, 22 mid-south farmers, 15 Certified Crop Advisors and four VIP’s will be presenting their latest agricultural research. Over 59 Ph.D.’s representing all disciplines and most agriculture crops will make
presentations to attendees.
The Keynote speaker Jim Wiesemeyer contributes daily to PRO FARMER’S online website at profarmer.com and is also a participant in Farm Journal’s Agri-Talk radio program. He will provide the latest information on agricultural policy and trade development. Mr. Wiesemeyer serves as a Washington analyst for Pro Farmer and Farm Journal.
In addition to the major crops, topics covered are Soil Health, Regenerative Agriculture, Pest Management, Precision Ag., and 14 presentations on Irrigation. There are 6 Round Table Breakout Sessions where one can learn about Soil Test & Health, Soil Moisture Sensors, Drones and Regenerative Cotton. Certified Crop Advisors can choose from over 70 CEU’s courses in various disciplines.
“The conference is a gathering of the most knowledgeable Researchers/Specialists in the mid-states and midsouth-states, and highly productive farmers who produce cotton, rice, soybeans and corn,” stated John LaRose Jr., Steering Committee Chairman. “This conference has the reputation as being the No. 1 place in the United States where all producers can learn the latest agriculture production methods and techniques being utilized by leading agriculture farmers, Researchers and the Ag industry. I encourage anyone involved or interested in agriculture to make plans to attend,” added LaRose.
Academic Co-Sponsors are: University of Arkansas, Mississippi State University, University of Missouri, University of Tennessee, LSU AgCenter, Auburn University and Texas A & M. Technical Partners are: USDA-ARS centers in Oxford Mississippi, and Auburn, Al.
Find registration and full details as they become finalized at www.nctd.net.
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USRPA Convenes International Promotions Committee Meeting in Houston | |
On Thursday, US Rice Producers Association's International Promotions Committee met in Houston to discuss market development and activity planning for the upcoming year. The committee and staff were joined in Houston by FAS Marketing Specialist Brooke Chasteen, who provided an update from USDA-FAS, and five in-country contractors from around the world who shared information on USRPA's current activities in key markets.
Stay tuned for a full story on the week's board meetings in next week's edition of The Rice Advocate.
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RMTC 2025 - Early Bird Pricing Ends Sunday | |
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Flashback Friday to last year's Cotton & Rice Conference in Jonesboro. We look forward to seeing you in Memphis!
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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Grain: World Markets
& Trade | | |
World Agricultural Production | | |
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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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February 20, 2025
Missouri Rice Research & Merchandising Council Annual Meeting
Poplar Bluff, MO
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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