Key facts
- U.S. rough rice futures have seen a quiet rally.
- Rough rice futures declined significantly over the past year.
- Abundant global supply, India's trade policy shifts, and a strong dollar muted price increases.
- An excellent U.S. crop and steady demand are noted.
- A tighter U.S. supply outlook is now projected.
- U.S. flour production increased in the April-June quarter.
- This rise in flour production ended a five-quarter decline.
- The National Agricultural Statistics Service collects flour production data by surveying mills.
U.S. rough rice futures are experiencing a quiet rally, a shift from the significant declines observed over the past year. This rally occurs amidst a backdrop of abundant global supply, India's evolving trade policies, and the persistent strength of the U.S. dollar, factors that had previously suppressed price increases. Despite these global pressures, an excellent U.S. crop and steady domestic demand have supported the market. Projections now indicate a tightening U.S. supply outlook, which may further influence future price movements.
In a separate but related agricultural market development, U.S. flour production saw an increase in the April-June quarter. This rise marks the end of a five-quarter period of consecutive declines in flour output. The data detailing this shift is gathered by the National Agricultural Statistics Service, which conducts surveys of mills across the country to compile its production statistics.