OFFSHORE QUOTES
Thailand Vietnam India Pakistan Uru. Arg. Brazil
100%B $490.00 5% $465.00 Export ban, MEP $900
5% $470.00 5% N/A 5% $480.00 $515.00 $515.00
10% $465.00 10% $460.00 10% N/A 10% no quote $505.00 $505.00
15% $460.00 15% $450.00 15% N/A 15% no quote no quote no quote
25% $445.00 25% $430.00 25% N/A 25% $430.00
Parb. 5% N/A Parb 5% $530.00 $480.00
Brokens $405.00 Brokens $410.00 Var. 1121 $1350 Parb 15%* $515.00
Parb. 100B sorted $495.00 MEP-5% $490.00 Basmati Brokens $390.00 Paddy
Thai Hom Mali $900.00 MEP-25% $470.00 Traditional $1800 Basmati $300.00
Frag. Brokens $435.00 Pusa $1300 S. Kernal $1300.00
All prices basis U.S. dollars per metric ton, F.O.B. vessel, corresponding home port *Bangladesh Specs.
Copyright © 2011 Creed Rice. Co., Inc. All Rights reserved www.creedrice.com
U.S. Paddy Market Report not be enough water for second crop.
California - 2010 Calrose M/G last traded at $13.50 per cwt over loan. 2011
Texas - The market continues to be quiet with no new trading reported. new crop last traded at $13.50 per cwt over loan.
Buyers’ price ideas are still $6.00 per cwt over loan. New crop planting
continues with about 80% completed. Reflective Prices (all basis per cwt FOB country, 2010 Crop)
Louisiana - The market is very quiet with long grain bids $11.48 - $11.73
Texas Louisianna Mid-South California
per cwt FOB farm. Planting of new crop continues with southwest La. about
80% completed. Long grain 11.50-12.50 11.50 - 11.75 $9.75b/11.11a *
Mid South - Bids for long grain are $10.50 per cwt loaded barge up-river Med Grain * 14.50 new crop $17.25 $20.55
for May shipment while sellers’ price ideas are $12.00 per cwt loaded barge. L/G is #2 55/70, M/G is #2 58/69 (California #1)
Planting continues to be interrupted by rain, something that Texas dearly * - These areas do not have sufficient supplies of this type to quote.
needs as there are concerns that if the drought in Texas continues there may
U.S. Report
U.S. GULF, FUTURES, & MERCOSUR
The market in the South remains very quiet, amid very limited mt basis bulk. As regards paddy, long grain barges are being bid/
demand for milled rice. In rather sharp contrast, the paddy exports asked at levels that reflect $255/$285 per mt bulk FOB NOLA. No
have been fairly steady. Of particular note is a sale of 50,000 mt activity on medium grain reported in quite some time and that
to Panama, with an upcoming tender for 30,000 with Costa Rica. was for new crop at $15.50 per cwt. delivered mill.
Paddy shipments continue on a regular weekly basis to Mexico The undertone of the market is steady, as prices seem to have
and other destinations in Central America. bottomed-out, for now. The big question is where is the business
Now, let me attempt to analyze this a bit closer and point out going to come from for the mills between now and new crop,
some very interesting ironies early on in the season that reflect and what will be the ultimate fate of what looks to be a carryover
contradictory export numbers. of some 40,000,000 cwt. of low yielding, low quality rice. As
1- Overall, paddy exports trail last year’s pace by over aforementioned in previous reports, new crop contracts call for
150,000 mt. no blending of 2010 and 2011 crops...it will be interesting to see
2- However, this does not include the aforementioned how buyers try to police that!
80,000 mt of Costa Rica and Panama business this Amid profit taking by speculators and a soft cash market, the
month that have not yet shown up in the export sales futures ended the week down $0.60 - $0.75 cents per cwt.
reports.
3- Much to most people’s surprise, milled rice exports CALIFORNIA, AUSTRALIA & THE “MED”
actually lead last year by about 140,000 mt...complete No substantive change in the market here as
opposite of what one might think giving the atmosphere the mills continue to ship against (primarily) old
today. business for Japan and Libya. So far, we have had
4- However, one has to realize this gain was all at the no disruptions in execution, given the conditions on
beginning of the crop year when our prices were much the ground at destination.
cheaper, and we were able to increase market share Price are steady to slightly softer with #1-4% quoted at $37-
in places like Ghana, sell brokens to Senegal due to 38 per cwt bulk FOB mill, or $875 per mt CY Oakland.
low yielding paddy, and parboil to Nigeria and Benin As regards the cash paddy market, things are pretty slow,
account competitive pricing with Thai. Most likely, all of with light trading reported around $13.50 per cwt over loan.
that is in our rear view mirror; plus it appears as though No fresh new crop trades reported, however last trade for 2011
we have lost Iraq for the season, and are slowly but surely crop was coincidentally at $13.50 as well.
losing market share in Canada and the Caribbean. The Australia harvest is in full swing, as
In the meantime, we would place nominal values on #2-4% the conditions look good so far and we are still
at $515-520 per mt bagged FOB vessel, or around $490-500 per anticipating a crop of around 800,000 mt basis paddy.
Copyright © 2011 Creed Rice. Co., Inc. All Rights reserved www.creedrice.com
Rice Co-Products - Spot market prices basis $ per short ton bulk, FOB mill (virtually no spot supply available for sale in South, except hulls)
Texas Louisiana Arkansas California
Bran: $110-$115 $110 Not Available ($110) $140-$150
Mill Feed: $45 $30 Not Available ($40)
Ground Hulls: $5 $5 $15
Unground Hulls: $5 $5 $12 $8
Creed Rice Co. Inc. 800 Wilcrest Suite 200 Houston, Texas 77042 USA
Ph 1.713.782.3260 Fax 1.713.782.4671 www.creedrice.com email: ricecreed@aol.com & creedinc@swbell.net
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Copyright © 2011 Creed Rice. Co., Inc. All Rights reserved www.creedrice.com