24.09.2015 - Rice Is Commodity Winner as Weather Cuts Crop in Southern U.S.
While adverse summer weather conditions in the U.S. have failed to give much of a boost to either corn or soybean prices, one crop is surging: rice. Rough rice traded in Chicago is up 22 per cent in the third quarter, the best performer among commodities futures tracked by Bloomberg. Domestic output is estimated to fall 14 per cent in the crop year that began 1 August to 18.95 billion pounds, the U.S. Department of Agriculture said 11 September. The harvest in Arkansas, the largest growing state, is showing “dismal” yields, according to a USDA report last week. Texas had a record wet month in May and other southern growing states saw above-average temperatures in July...............................................Full Article: Source
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