Editor’s note: Bobby Coats is a professor in the University of Arkansas Division of Agriculture.
In its March report, USDA raised the U.S. long-grain season-average rough rice price 30 cents on both ends, to $12.20-$12.80 per cwt.
UDSA made no supply side revisions in their March report.
• Total U.S. supplies of rice in 2014/15 remain projected at 275.9 million cwt, 11 percent higher than a year earlier.
• Total U.S. exports were revised up 1.0 million cwt to 104.0 million cwt. Long-grain milled rice accounted for all of the increase.
2014/15 global rice production is forecast at 474.9 million tons (milled basis)
• Up 0.3 million tons from last month’s forecast. Global rice production is still 2.2 million tons below the 2013/14 record.
The global 2014/15 consumption forecast at a record 483.7 million tons.
2014/15 global rice ending stocks are forecast to 97.6 million tons, the lowest since 2009/10.
The 2015 global rice trade forecast is 42.6 million tons, the second highest on record.
• USDA revised their 2015 import forecasts upward for China, Saudi Arabia, and the European Union.
Rice outlook and farm bill webinar March 19, 2015:
Tony Franco, Chief, Farm Programs Division, Arkansas State FSA Office, and Anita Wilson, Agricultural Program Specialist, Farm Programs Division, Arkansas State FSA Office, and I will continue our series of Farm Bill and Outlook webinars.
On March 19, 2015, Nathan Childs, Agricultural Economist, USDA Economic Research Service, will be the primary presenter discussing the U.S. and Global Rice Outlook.
Tony Franco, Anita Wilson and I will be fielding farm bill and Decision Aid questions. If you have farm bill-related questions, feel free to log-on at 8:30 a.m. and we can have a farm bill question and answer session before the primary presentation begins at 9 a.m.
Registration LINK for March 19: https://uaex.zoom.us/webinar/register/01b9f7ff2362cdf47c24e00bf0acd2b8