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USA Rice Daily
Up-to-the-Minute News on Issues and Activities
Wednesday, June 3, 2015
Riviana Foods Buys RiceTec's RiceSelect Brand
Consumer favorite 

MADRID, SPAIN -- Ebro Foods, parent company of Riviana Foods, Inc., announced today it has acquired the U.S. consumer rice business division of RiceTec AG and RiceTec, Inc. which manufactures and markets products under the brand RiceSelect® in a deal valued at $45 million.

 

The transaction includes the brand and certain other assets of the business, including a production plant in Alvin, Texas and a workforce of 42 employees.

 

"The RiceSelect business is a perfect complement to Riviana's portfolio," the company said in a press release announcing the acquisition. "It will boost the company's development in the fastest growing segments of the North American rice market...furthering its investment in high value added products and achieving significant positioning in the healthy foods segment through new concepts."

 

Contact:  Michael Klein (703) 236-1458

Rice Foundation Accepting Applications for 2016 Rice Leadership Development Program
Session One includes a tour of
the LSU Rice Research Station.
 

STUTTGART, AR -- The Rice Foundation is accepting applications for the 2016 Rice Leadership Development Program. Rice producers or industry-related professionals between the ages of 25 and 45 are eligible to apply for the program. The application deadline is October 3.

 

The Rice Leadership Development Program provides a comprehensive understanding of the rice industry, with an emphasis on personal development and communication skills. During a two-year period, class members attend four one-week sessions designed to strengthen leadership skills through studies of all aspects of the rice industry.

 

The class is comprised of five rice producers and two industry-related professionals chosen by a committee of agribusiness leaders. The committee evaluates the applications of all candidates, reviews letters of recommendation, and conducts personal interviews with the finalists. Interviews will be conducted at the USA Rice Outlook Conference in New Orleans, Louisiana, in December.

 

The program is sponsored by John Deere Company, RiceTec, Inc., and American Commodity Company through The Rice Foundation and managed by the USA Rice Federation.

 

Additional information on the Rice Leadership Development Program and an application form can be found on the USA Rice website.

 

Contact:  Chuck Wilson (870) 673-7541

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
14.93
9.67 
0.00
Medium-/Short-Grain
14.55
9.80 
0.00
Brokens
  9.01
----
----

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 June 10, 2015.    
CME Group/Closing Rough Rice Futures   
CME Group (Prelim):  Closing Rough Rice Futures for June 3

Month
Price
Net Change
July 2015$9.865
 + $0.090
September 2015$10.140
+ $0.090
November 2015$10.415
+ $0.090
January 2016$10.670
+ $0.090
March 2016$10.860
+ $0.100
May 2016
$10.860
+ $0.100
July 2016
$10.860
+ $0.100

In the News 

Around Washington

House Subcommittee Examines Ag Sector's Economic Health Farm Futures

Given lower commodity prices and decrease in net farm income, the committee discussed farm economics within the realm of the second-year farm bill.

 

Lawmakers: 'Precarious' Farm Financial Situation Makes Case for Farm Bill Agri-Pulse

Panelists agreed that many sectors of agriculture are in a tough spot. Net farm income in 2015 is projected to be about 43 percent less than the record high $129 billion set in 2013.

 

 

Around the Country

Heart of Louisiana: Conrad Rice Mill WVUE-TV Fox

Video tour of a rice mill that has been in production since 1912. Mike Davis, a former teacher and farmer who bought the rice mill from the Conrad family in 1975 mills mostly brown rice.

 

Heavy Rain Creates a New Problem for Farmers Houston Chronicle

Conditions looked so dry in March that the Gulf Coast Water Authority decided to withhold deliveries of Brazos water from rice farmers for the third straight year. Ivan Langford, Gulf Coast's general manager, said the authority made the decision because of low water levels in the drought-stricken river and in reservoirs upstream of the farmers. The order cut off water deliveries for some 13,000 acres of rice fields.

 

Researchers, Rice Industries Exchange Information at Annual Meeting  

High Plains Journal

Producing high-quality rice is a team effort and the annual Rice Processing Program Industry Alliance meeting is where industry leaders compare notes, research and resources. Hosted by the University of Arkansas System Division of Agriculture in the nation's No. 1 rice producing state, more than 100 industry representatives, rice growers, equipment suppliers and consultants attended this year's meeting, May 20 and 21.

 

Sun Shines Briefly on Delta Council Day: Photo Gallery Delta Farm Press

Sen. Roger Wicker, a native of Tupelo in northeast Mississippi, traveled to the Delta from Washington and talked about a new sense of bipartisanship in the U.S. Senate and the impact that is having on education, defense, foreign policy and infrastructure.

 

Widely Anticipated Surveys Coming in June USDA Blog

Because of the prominent influence and impact these surveys have in the agricultural industry and on government programs and policy, its important farmers and ranchers participate.

 

 

Tariffs and Trade

The Trans-Pacific Partnership, Explained Vox

Vox card stack breaks down the current trade deal.

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