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USA Rice Daily
Up-to-the-Minute News on Issues and Activities
Wednesday, February 4, 2015

USA Rice Welcomes New Members 

ARLINGTON, VA -- The USA Rice Federation is proud to announce two new members.  The USA Rice Millers' Association welcomes Thiele Technologies, headquartered in Minneapolis, MN, as an Associate Member.  "The addition of Thiele Technologies adds value to the USA Rice Millers' Association," said RMA Chairman Chris Crutchfield.  "We look forward to their involvement in and contribution to the industry."

 

Farmers Grain Terminal, Greenville, MS, is a new member of the USA Rice Merchants' Association.  "We are thrilled Farmers Grain Terminal has decided to join our Merchants' Association," said Dick Ottis, chairman of USA Rice Merchants' Association board of directors.  "Their participation will provide a more complete perspective from merchants in the rice industry."

 

USA Rice invites producer, mill, merchant, and industry partners who support the rice industry and the mission and goals of the organization as members. Benefits of membership range from communications to educational conferences to participation on boards and committees.

 

For more information on membership opportunities with USA Rice, please contact Amy Doane, (703) 236-1454.

CCC Announces Prevailing World Market Prices 
WASHINGTON, DC -- The Department of Agriculture's Commodity Credit Corporation today announced the following prevailing world market prices of milled and rough rice, adjusted for U.S. milling yields and location, and the resulting marketing loan-gain (MLG) and loan deficiency payment (LDP) rates applicable to the 2014 crop, which became effective today at 7:00 a.m., Eastern Time (ET).  Rough rice prices decreased $0.04 per cwt for both long grain and $0.17 for medium/short grain.  The changes in the announced prices and rates reflect world market prices and technical changes due to the milling yield information available for the 2014 crop.

 
World Price
MLG/LDP Rate
 
Milled Value ($/cwt)
Rough ($/cwt)
Rough ($/cwt)
Long-Grain
15.93
10.32
0.00
Medium-/Short-Grain
15.53
10.46
0.00
Brokens
9.61  
----
----

This week's prevailing world market prices and MLG/LDP rates are based on the following U.S. milling yields and the corresponding loan rates:

 
U.S. Milling Yields
Whole/Broken
(lbs/cwt)
Loan Rate
($/cwt)
Long-Grain
57.21/12.55
6.64
Medium-/Short-Grain
61.89/8.83
6.51
 
The next program announcement is scheduled for February 11. 
CME Group/Closing Rough Rice Futures   
CME Group (Prelim):  Closing Rough Rice Futures for February 4

Month
Price
Net Change
March 2015$10.250
- $0.135
May 2015$10.505
- $0.140
July 2015$10.760
- $0.140
September 2015$10.625
- $0.125
November 2015$10.795
- $0.125
January 2016
$10.885
- $0.125
March 2016
$10.885
- $0.125


In the News 

Around Washington

Lawmakers to Consider Splitting Next Farm Bill, Conaway Says Agri-Pulse

Conaway's remark came in response to concerns raised by Louisiana Agriculture Commissioner Mike Strain that SNAP was still part of the farm bill, which he said inflates the cost of the legislation in the public's mind.

 

Obama Budget Would Take Chop at Crop Insurance Delta Farm Press

Vilsack said the crop insurance changes would help keep taxpayer costs down at a time when lower commodity prices are expected to mean unexpected cost overruns for agriculture programs in the new farm bill.

 

Unearthed: A Rallying Cry for a Corp Program that Could Change Everything  

Washington Post

Why, in a modern agricultural system, do we still single out commodities for special treatment? I asked a lot of people, and the reason seems to be that we've been doing it for so long that it's hard to change.

 

 

Around the Country

Arkansans Helped Change Tide on Cuban Embargo Delta Farm Press

Right now Cuba imports rice of lower quality than ours from Asia and South America. Wouldn't it benefit the Cuban consumer and the Arkansas economy to buy that rice from right here in the Mid-South?

 

Business Still Brisk for California Large-Equipment Vendors Capital Press

The success of California's specialty crops, including almonds and walnuts, has kept up demand for equipment.

 

Top 10 Marketing Mistakes Made by Farmers Delta Farm Press

Marketing has been fairly easy the last few seasons but that has definitely changed. Tightening up your approach and limiting your mistakes could prove very important going forward.

 

 

Around the World

Gulfood Conference Vital for Food Industry Growth HotelierMiddleEast.com

The biggest edition in the show's history, Gulfood 2015 is expected to attract more than 80,000 visitors from 170 countries and 4,800 international exhibitors from 120 countries.

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