Riceland Daily Market Review: September 18 2009 | Members Info | Riceland Foods - a rice, soybeans, and wheat marketing co-op

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ROUGH RICE ($/Cwt.)	Monday Sep. 14	Tuesday Sep. 15	Wednesday Sep. 16	Thursday Sep. 17	Friday Sep. 18	Friday Yr. Ago Sep. 19
November 2009	13.16	13.31	13.27	13.28	13.46	18.46
January 2009	13.40	13.56	13.51	13.51	13.70	0.00
SOYBEANS ($/Bu.)
November 2009	9.09	9.60	9.51	9.53	9.41	10.88
January 2010	9.14	9.64	9.30	9.56	9.45	10.96
WHEAT ($/Bu.)
December 2009	4.54	4.71	4.67	4.62	4.57	7.75
July 2010	4.97	5.13	5.10	5.06	5.02	7.92
COTTON (¢/Lb.)
October 2009	60.46	61.42	62.44	62.45	63.18	72.52
December 2009	62.21	63.02	63.59	64.19	64.60	73.48
CORN ($/Bu.)
December 2009	3.18	3.47	3.36	3.29	3.18	5.59
March 2010	3.31	3.60	3.50	3.42	3.32	5.69
RFI Avg. Cash Price for Long Grain Rice ($/Bu.)
Cash Price at Elevator	5.51	5.58	5.56	5.57	5.65	0.00
LDP	0.00	0.00	0.00	0.00	0.00	0.00
Total Cash	5.51	5.58	5.56	5.57	5.65	0.00

Friday, September 18, 2009

The CBOT futures continue to trade mixed as the bullish and bearish factors battle each other. A firmer U.S. dollar and the absence of the weather threats for the corn and soybeans is applying pressure to any possible rally. A continued strong demand for soybeans by China has improved the Gulf bid, but a thin supply of new crop soybeans because of the Delta Rains is slowing harvest. The opposing market factors are promoting a sideways action on technical charts while prices are staying within a limited trading range.

There is some short covering on wheat as funds hold large net short positions. This was brought on by weak corn and a big global stockpile of wheat that Brazil is now testing for traces of Vomitoxin.

The Grand Prairie weather forecast for the next five days calls for rain each day and temperatures to be in the low 80’s. This is the exact opposite of the weather we need to get harvest back on track.

Please e-mail suggestions or comments about the Riceland Weekly Market Review to riceland@riceland.com.

Cwt. X 2.222 = Bushel
Bushel X 0.45 = Cwt. Metric Ton X 22.046 = Cwt.
Metric Ton X 49 = Bushel $/Cwt. X 0.45 = $/Bu.
$/Bu. X 2.222 = $/Cwt.