WORLD MARKETS AND TRADE:

COMMENTARY AND CURRENT DATA

International: Thai quotes are up $4 from last month to $335 per ton, FOB, as a result of the strengthening Baht. Nominal quotes out of Vietnam are at $303 per ton, FOB, due to the export ban.

Domestic: U.S. #2/4 long grain milled rice quotes are down from last month to $409 per ton, FOB. The spread between comparable qualities of Thai and U.S. rice is $74 per ton compared to $59 per ton this time last year. California medium grain #1/4 prices have retreated from last month’s price of $525 per ton price to $510 per ton, FOB.

• Australia is down 100,000 tons to 50,000 tons as severe drought conditions continue to put pressure on supplies.

• Vietnam is down 100,000 tons to 4.7 million tons due to tight supplies.

• United States is up 400,000 tons to 3.1 million tons based on larger supplies and lower expected prices.

• Vietnam is down 300,000 tons to 4.7 million tons as a drop in production created tighter supplies.

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Last modified: Thursday, July 12, 2007