Rice supply at all-time high

Stuttgart Ark -
The U.S. rice supply is currently at a record high with 297.8 million hundredweight (CWT), which is 11 percent more than last year at this time. The record harvest in 2010-11 brought a large amount of drag that will more than offset a slight decline in imports. The average milling rate of all rice rose slightly to 67.75 percent in March, but remains the lowest on record.
The review only this month was a change in exports one million bushels of rough rice to milled rice exports. The total use in 2010-11 is still projected at 245 million cwt, which is the highest in history. Exports for 2010-11 being projected at 116 million cwt, up five percent over last year. U.S. ending stocks of all rice in 2010-11 is still projected at 52.8 million cwt, 44 percent more than last year and the largest ending stocks since 1985-86.
Export prices for long grain continue to decline, which is reducing the price differential in Thailand, even when the Thai also falling prices. The price of U.S. agricultural season the average long grain rose 30 cents on both ends of $ 11.05-$ 11.55 per hundredweight, which is still below the $ 12.90 last year. U.S. Medium grain fell 50 cents to $ 16.25-$ 16.75 per hundredweight, compared with $ 18.40 last year.
This month, the USDA cut its forecast for world production in 2010-11 slightly to 451.5 million tons (milled basis), with more than two percent larger than a year earlier - the highest in history.
India forecasts of production decreased, while forecasts for Brazil and Argentina increased. The forecast for the global demise in 2010-11 fell by more than five million tonnes to 447.0 million tons, the highest in history.
China and India account for most of the downward revision in projected disappearance. Global stocks end forecast for 2010-11 has increased by almost five million tons to 98.8 million tonnes, nearly five percent since 2009-10 and the highest since 2002-03.
The world trade forecast for 2011 was reduced to half-a million tons to 30.2 million tonnes, nearly a million tonnes last year. export forecasts this month fell to Burma, China and India, but raised in Vietnam.
On the import side, the business projections of Saudi Arabia and South Africa were reduced.
trading prices of the grades of high and medium quality rice from Thailand unskilled workers have fallen four to five percent of the second week of February, mainly due to slower sales and large exportable supplies.
price quotes from Vietnam have eased in recent weeks, especially in anticipation of the harvest would soon be reflected in the country.
Price quotes for U.S. long grain rice has continued to fall last month, mainly due to the large domestic supply and lingering concerns about the quality of the 2010 harvest in the U.S. South.
Information provided by the Department of Agriculture of the United States. Find more details in the next section of rice Outlook published by the leading newspaper in Stuttgart in late spring.