Rice Outlook: 5-28-08
According to Gene Johnson, LSU AgCenter economist, the market has leveled
out a bit and some sense of sanity has been restored. Current quotes
reflect around $950 to $975 per metric ton (mt) bagged FOB for No. 2
to 4 percent long grain milled rice or $925 to $950 basis bulk. Price
discovery on rough rice is a bit more difficult as cash vendors and
buyers are miles apart. Bids on barges reflect around $475 to $485 per
mt FOB NOLA with limited offers at around $40 to $50 per mt higher and
no trading during the third week in May.
In its May supply/demand report, USDA made the first projections for
the 2008/09 rice crop. Acreage and rice production are estimated essentially
the same as last year – 2.77 million acres and production at 197
million hundredweight (cwt). Average farm prices are projected substantially
higher at $18.50 to $19.50 per cwt ($29.97 to $31.59 per barrel).
AR updates Rice DD50 Program
According to Arkansas Extension rice specialist Chuck Wilson,
the DD50 program has been updated for 2008 and is now available at http://dd50.uaex.edu.
If you choose not to use the Internet, enrollment cards can be submitted
to your county Extension agent, and they will send you a report as has
been done since the program originated.
To enroll, the field size, variety and emergence date are needed. Farmers
are encouraged to enroll all fields, or at least all acres, even if
several fields have the same variety and emergence date. The information
generated from this program is useful to farmers and also provides an
estimate of harvest dates and variety distribution by county that the
mills can use to “gear up” as the harvest season begins.
Engine lubricant offers ‘green’ treatment for farm
Green Lubrication Solutions (GLS) is the exclusive western
U.S. distributor of a unique line of lubrication and engine enhancement
products (MotorSilk and LubriSilk) that provide significant cost savings
and an easy-to-implement option for those looking to “go green”
and use less oil.
The biodegradable, non-toxic products offered by Green Lubrication
Solutions treat farm vehicles, equipment and related machinery with
a patented lubrication technology invented at the U.S. Department of
Energy labs (originally formulated as an extreme conditions lubricant
suitable for the rigors of the NASA space program), which significantly
increases energy efficiency in engines, reduces emissions, saves gas
and lubrication oil use and can even be used to obtain carbon credits.
USA Rice Foodservice Program wins IACP award
USA Rice Federation’s foodservice program was named the
winner of The International Association of Culinary Professionals (IACP)
“Award of Excellence” for best corporate marketing campaign.
USA Rice launched its comprehensive foodservice program featuring the
new Web site, www.MenuRice.com,
to modernize the image of rice and increase awareness and usage of U.S.
rice in foodservice.
USA Rice joins a prestigious list of previous winners of the award
that includes Cuisinart, Kitchen Aid, National Cattlemen’s Beef
Association, Wegmans Food Markets and other food industry leaders.