Colosseum a.s. (Colosseum a.s.)
Commodities  |  February 06, 2013 08:35:33

Rice on a 15-month highs

ColosseumFutures contracts on rice yesterday climbed to 15-month highs, after it became clear that supplies of this commodity in the U.S. are unusually low. Stocks fall in U.S. rice in the marketing year ending 31 August to 960,000 tons. This is about 26% less than the stocks still a year earlier. At present, we can expect higher demand for rice from both exporters and end consumers, since the price may climb even higher. The problem is that many farmers now grow more soybeans or corn, because these crops are more lucrative for them. Therefore, it is not expected that there was a shortage of rice stocks quickly resolved. The March CBOT rice yesterday strengthened by 1.5% to $ 16.15 per 100 pounds of weight.

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