Browse Data and Analysis

Rice export prices increased 1-2 percent as exporters continued to secure rice supplies ahead of the Lunar New Year and Ramadan despite a further weakening of the Thai baht.

Corn and wheat production for marketing year (MY) 2023/2024 are forecast lower based on less planted area and unfavorable weather conditions. Rice and sorghum production are forecast to increase.

Heavy rainfall in late summer led Post to increase Marketing Year (MY) 2023/24 corn production upwards by 4.2 percent. Post estimates corn feed and residual use at 223 Million Metric Ton (MMT) due to decreasing feed demand and low corn prices.

El Niño conditions for Australia remain present, but this has been pushed aside in late spring and early summer after the eastern states received above-average rainfalls. This situation has prompted a rise in the sorghum production forecast for MY 2023/24 to 1.8 million metric tons (MMT), and the rice production forecast remains strong at 522,000 metric tons (MT) with the support of ample irrigation water.

Rice export prices increased 1-2 percent despite the weakening of the Thai baht.

Export rice prices grew one percent despite the weakening of the Thai baht, as exporters secured rice supplies to fulfill contracted shipments to ASEAN countries.

On December 22, 2023, Taiwan completed the last tender for 6,000 MT of U.S. long grain brown rice. This purchase concludes the tenders for the 2023 country specific quota (CSQ) for U.S. rice.

Export price quotations are not available this week due to the New Year’s holiday.

Jordan’s MY 2023/24 wheat imports are forecasted to reach 1.25 million MT -- with Ukraine, Romania, and Russia dominating wheat imports in the first seven months of calendar year 2023.

Export prices for white rice remained unchanged as the public tender for 2.2 million metric tons of old-crop rice has not yet been finalized.

2015/2016 wheat production is estimated at 5.6 million metric tons (mmt), down 6 percent from the previous year as some producer switch to more profitable crops like corn and soybeans.

Export prices remained unchanged as traders are awaiting the new public tender for 2.2 million metric tons of government stocks.