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In This Issue:
- Market Update: All Eyes Are On Harvest
- Missouri Rice Council Hosts Field Day
- Cochran Fellows Visit South Louisiana Rail Facility
- Mexico's White Rice Demand-Supply
- RiceTec Introduces New CEO & First Medium Grain Hybrid at Field Day
- Photos from Rice Country
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Market Update: All Eyes Are On Harvest | |
More reports are coming in of an average to above average crop, which is great news for mills looking for head rice, and producers looking for yields. The domestic business remains steady, and the boost from Iraq is just what the mills need to keep busy through the balance of the calendar year. Prices on the ground for spot prices have remained consistent, which provides a nice backdrop for producers moving through harvest in Louisiana and Texas. Arkansas and California are looking to get in the field the first week of September, and many in Mississippi are ready to start, but untimely rains are getting in the way.
Texas is getting close to being finished, with less than 25% predicted to still be in the field, while the USDA is reporting only 66% harvested this week. Yields for hybrids have been reported as strong, but some of the conventional varieties were hit by the weather which has made the harvest season difficult. Prices have held at the $17.50/$18 range for hybrids and conventional respectively. Louisiana is also receiving rains, with prices reflecting a $17.30 price this week. Overall though, harvest is progressing smoothly and yields have been strong, with the USDA showing 60% harvested, though it’s likely at least 10% beyond that at this point. Arkansas is of course behind Texas and Louisiana, with harvest expected to start in earnest the first week of September. Producers are optimistic about their crop and have confidence it will at least be average. The USDA shows the crop is 89% headed, with 24% showing fair, 53% good, and 19% excellent.
In Asia, prices held steady this week in Thailand, registering at $425 pmt, and the market looking steady at these prices with plenty of supply heading into Q4. Vietnam had a significant drop, falling from $420 last week to about $405 this week on account of a brief respite in an incredibly busy schedule. The long-term demand is there, but it’s almost as if the loadings are taking a quick breather. India hasn’t slowed down and continues to ship rice at breakneck speeds at $355 pmt. As discussed before, these low prices from India have kept a lid on all rice prices in the Eastern hemisphere.
The futures market has performed quite well this week, showing strong pricing and activity. The only concern here, however, is that the futures prices support only domestic pricing. There isn’t sufficient export activity at these prices, especially when considering the intrusion from cheaper origins in Latin countries that are chipping away at the historical core customer base of US long grain customers. The average daily volume was up to 2,005 this week, an increase of 61%. Open interest was 8,885, an increase of 1%.
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The House and Senate are both on District/State Work Periods through Labor Day. Washington D.C. updates will resume when they reconvene on September 6. | |
Missouri Rice Council Hosts Field Day | |
On Tuesday, the Missouri Rice Research & Merchandising Council hosted its first in-person Field Day since the start of the pandemic. Approximately 150 people gathered at the Missouri Rice Research Farm near Glennonville, MO for morning demonstrations, followed by a luncheon with guest speakers Jason Bean, Missouri state senator for the 25th Senatorial District, and Davin Althoff, Director of Marketing & Commodities for Missouri Farm Bureau. Field speakers and topics included:
- Water, Irrigation, & Rice - Dr. Michael Aide, Professor, Department of Agriculture, Southeast Missouri State University
- Effect of Row Spacing on Furrow-Irrigated Rice - Dr. Justin Calhoun, Soil and Cropping Systems Extension Specialist, University of Missouri Extension
- Cultivar Selection, Planting Date, & Other Agronomic Decisions - Dr. Justin Chlapecka, State Rice Extension Specialist, University of Missouri Extension
- The importance of insecticide seed treatments, and the future of rice stink bug control - Dr. Chase Floyd, Crop Protection Specialist with University of Missouri Extension, and Dr. Nick Bateman, Entomologist, University of Arkansas System Division of Agriculture
- Potential for Brake (Fluridone) in Furrow-Irrigated Rice - Jim Heiser, Senior Research Associate - Weed Science, University of Missouri Extension
The Missouri Rice Council thanks all of the attendees and event sponsors for their support of Field Day.
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Dr. Justin Chlapecka, State Rice Extension Specialist, presented on "Cultivar Selection, Planting Date, & Other Agronomic Decisions" at Field Day. | |
Drs. Nick Bateman and Chase Floyd discuss the future of rice stink bug control at their Field Day stop. | |
Senator Jason Bean speaks to the group before lunch. A rice producer himself, Senator Bean serves as Vice Chairman of the Missouri Senate's Agriculture, Food Production, & Outdoor Resources Committee, among other appointments. | |
Cochran Fellows Visit South Louisiana Rail Facility | |
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As part of the USDA's Cochran Fellowship Program, a group of six Guatemalans and Hondurans are currently participating in the U.S. Rice Quality, Marketing, and Pricing training program. The two-week program includes stops in Louisiana, Arkansas, Tennessee, and the D.C. area, and will help importers learn how to market U.S. rice products and showcase the variety and quality of U.S. rice, with the goal of increasing exports of U.S. rice to Guatemala and Honduras.
The group stopped in Lacassine, Louisiana for a tour of the South Louisiana Rail Facility on Tuesday. Mark Pousson, general manager of the SLRF and USRPA board member, hosted the tour, noting, "It was a great opportunity for staff and representatives to learn about our facilities firsthand and understand our industry.”
The fellows include Roberto Wong, Executive Director of ARROZGUA and long-time partner of US Rice Producers Association. Roberto noted that it was good for the group to be able to meet and learn from Mark directly about the success of the Louisiana rice industry .
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Mexico's White Rice Demand-Supply
According to SIAP’s July report, published, on Aug 5, 2022
Interesting data from the recently published July 2022 Mexican White Rice Supply-Demand Report from the Mexican Department of Agriculture’s Agri-food Information Service (SIAP). These are Mexican government numbers, that include imports from all origins:
Read More
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RiceTec Introduces New CEO & First Medium Grain Hybrid at Field Day
RiceTec hosted nearly 220 growers, vendors, and staff for its Arkansas Field Day event on August 11 where the company introduced the new Global CEO, Karsten Neuffer, and guided groups on tours of demonstration plots for new and current products.
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Thanks to Beau Olsovsky from Rosharon, TX for sharing this photo with us! Tag us in your photos or email them to [email protected] for the chance to be featured on our social media or in The Rice Advocate. | | |
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Food and Ag Regulatory and Policy Roundup | | |
USDA Economic Research Service
Rice Outlook: August 2022
U.S. 2022/23 Rice Production Forecast Raised to 176.0 Million Cwt
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MO Crops Podcast
Produced by University of Missouri Extension
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Arkansas Rice Updates
from the
Arkansas Row Crops Blog
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September 17, 2022
Have a RICE Day Cook-Off Competition
Eagle Lake, Texas
More Information
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September 23-24 2022
2022 SE Texas Urban Ag and Farm Safety Summit
by Texas A&M AgriLife Extension Service, Ag & Natural Resources - Harris County
Katy, Texas
More Information
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September 28 - October 1, 2022
Texas Rice Festival
Winnie, Texas
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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