WASDE Report Released

Oct 12, 2016
WASHINGTON, DC -- The 2016/17 U.S. rice crop is reduced 1.1 million cwt to 236 million on lower yields.  The average yield forecast is lowered 37 pounds per acre to 7,532.  A reduction in Arkansas is partially offset by increases in California, Mississippi, and Texas.  The long-grain crop is reduced 900,000 cwt to 177 million but still the largest since the 2010/11 record.  Medium- and short-grain production is lowered 300,000 cwt to 59 million.  Total rice exports are down 3 million cwt to 112 million reflecting a slow export pace to date and increased international competition.  Ending stocks are raised 1.9 million cwt to 61 million, the largest since 1985/86.  The all rice season-average farm price is unchanged at a range of $10.20 to $11.20 per cwt.

Global rice supplies for 2016/17 are raised 4.5 million tons on higher beginning stocks and production.  Production is increased 1.5 million tons to 483.3 million and remains record large. Thailand production for 2016/17 is raised 1.6 million tons on beneficial precipitation and good reservoir recharge for irrigation, which led to increased dry-season rice area.  Egypt and Australia production are raised 600,000 tons and 200,000 tons, respectively.  However, these increases are partially offset by a 500,000-ton reduction for Brazil and a 300,000-ton reduction for Sri Lanka.  Global exports for 2016/17 are raised 300,000 tons and global consumption for 2016/17 is lowered 600,000 tons.  With total supplies rising and total use declining, world ending stocks are raised 5.1 million tons to 120.7 million.

Read the full report here.