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Up-to-the-Minute News on Issues and Activities
Wednesday, March 11, 2015
California Agricultural Leadership Group Visits USA Rice
From left:  Sarah Moran,
Rick Rhody, Betsy Ward, and
Jeff Milinovich with California Central Packing Company
 

ARLINGTON, VA -- Class 45 of the California Agricultural Leadership Program visited USA Rice Federation headquarters today to learn about the work of the national rice organization. 

 

The 17-month program provides advanced leadership development for emerging agricultural leaders and exposes participants to a wide array of ag business and technical interests.  The current class members represent a broad spectrum of California crops and agribusiness, and include Rick Rhody with The Sun Valley Rice Company, and rice grower Correen Davis from Gorrill Ranch in Durham, CA. 

 

The program includes an international session, so much of today's meeting with USA Rice President & CEO Betsy Ward, COO Bob Cummings, and International Promotion Director Sarah Moran focused on trade issues facing the rice industry and U.S. ag interests in general.

 

"The group was very engaged and asked excellent questions," said Ward.  "As with our industry's Rice Leadership Program, the investment in California's future ag leaders will pay enormous dividends going forward and we were happy to share our knowledge and experience with the group."

 

Contact:  Trish Alderson (703) 236-1472

Japan Announces 14th Ordinary Import Tender in FY 2014

Announcement:          10 March 2015

Tender:                        13 March 2015

Offer details:               64,368 mt

 

Country Specified or Global

Non-glutinous milled rice (medium grain)

Non-glutinous milled rice (long grain)

TOTAL

U.S.A.

13,000

 

13,000

Thailand

 

27,368

27,368

Global Tender

 

24,000

24,000

 

13,000

51,368

64,368

 

Shipping period:          (U.S.A.) from 20 September 2015 to 20 October 2015

                                    (Thailand) from 10 July 2015 to 20 August 2015

                                                      from 20 July 2015 to 31 August 2015

                                                      from 10 August 2015 to 20 September 2015

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).  Prices are unchanged from the previous announcement.

 
World Price
MLG/LDP Rate
 
Milled Value ($/cwt)
Rough ($/cwt)
Rough ($/cwt)
Long-Grain
15.48
10.03
0.00
Medium-/Short-Grain
15.10
10.17
0.00
Brokens
  9.34 
----
----

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 March 18. 
CME Group/Closing Rough Rice Futures   
CME Group (Prelim):  Closing Rough Rice Futures for March 11

Month
Price
Net Change
March 2015$10.505
+ $0.215
May 2015$10.735
+ $0.215
July 2015$10.985
+ $0.210
September 2015$11.105
+ $0.195
November 2015$11.290
+ $0.220
January 2016
$11.420
+ $0.210
March 2016
$11.420
+ $0.210

In the News 

Around the Country

Californian Water Crisis Set to Maintain Global Rice Prices ABC.net

Rob Gordon, CEO of Australian rice processor SunRice, said reservoirs in some of California's key rice growing areas were extremely low and to grow a rice crop you have to have a very high price to make sense of that, versus selling your water for town use.

 

Short Water Shifting California Crops, Farming Locations Western Farm Press

Much of what was presented at the BlueTechValley Water Summit echoed the theme of the need to be adaptable to a new world of less water availability. And companies presented "how-to" information on new technology, precision agriculture and variable irrigation.

 

 

Around the World

Bureaucratic Infighting Hampers Action on Droughts Reuters

Infighting between competing government departments has weakened the world's ability to tackle droughts, a U.N. official said as scientists meet at an international conference in Mexico this week to discuss desertification.

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