USA Rice Chair Keith Glover
Feb 14, 2025
ARLINGTON, VA – The USA Rice World Market Price (WMP) Subcommittee held its first meeting of 2025 via Zoom yesterday, convening to discuss supply and demand, export sales, field yield estimates, and 2025 planting projections.
Subcommittee members suggested 2024 field yield projections were too high in some states, and that medium grain prices and exports would likely end the year lower than what the U.S. Department of Agriculture (USDA) is currently projecting. Representatives from each state also offered their first projections for 2025 planting acreage.
Following the initial meeting, Subcommittee members and USA Rice staff then met with teams from the USDA National Agricultural Statistics Service (NASS), Economic Research Service (ERS), and World Agricultural Outlook Board (WAOB) departments.
WMP Subcommittee Chair Keith Glover provided feedback from USA Rice regarding NASS statistics, and reviewed the areas where USA Rice members thought changes could be made, including field yields and stocks.
“Each February the World Market Price meeting provides the opportunity to wrap up the prior year’s figures and offer the first projections for the coming crop year,” said Glover. “As always, we are happy to hold these mutually beneficial discussions with our USDA counterparts to help compile a complete and accurate picture of the current state of the industry.”
To finish off the day, the Subcommittee received limited market updates from the USDA Foreign Agricultural Service (FAS) and provided feedback to USDA on markets of greatest concern.
The Subcommittee will meet in-person next May in Washington, DC.