As of Oct 5, NASS/USDA estimated that the harvest was 70% complete, and essentially complete in Texas and Louisiana. Arkansas was reported at 76%, one point ahead of the five-year average. Generally favorable weather in the northern Delta and California this week should have put a big dent in the remaining work.
Louisiana and Texas
With the main harvest done, there are few changes in south Louisiana and Texas this week. There does appear to be more interest in buying paddy on the part of millers and exporters in both states.
In south Louisiana, long grain bids are reported to be between $20.00 and $20.25 per bbl fob farm basis a 62/70 for Nov/Dec shipment. Medium grain is called $24.00 to $25.00 per bbl fob farm, with shipment ranging from prompt to December.
In Texas public sales this week saw 143,000 cwts offered, but only 9,200 cwts confirmed. What sold was hybrid 753 at $5.50 over loan, with reports of additional trading at the same level. The Texas rough rice market has developed into a three-tier affair, with XL753 at the bottom at $5.50 over loan bid. XL745 is bringing 25-50 cents more at $4.75-$6.00 over loan. The best bid in the market is for package varieties at $6.25-$6.50 over loan.
The Delta – Mississippi, Arkansas, and Missouri
The harvest in Mississippi is well over the hump now, with progress in the area of 75% complete being reported. Yield and quality reports seem to be holding, and with barge rates easing (perhaps temporarily), the export bid has improved slightly to $12.78 per cwt delivered barge loading facility.
Arkansas continues to make progress, with its harvest at 80% completed now. Previously reported field yield figures continue to be reported. Quality is said to be good, although it seems hybrids are chalkier than last year. Medium grain bids are still at $6.50 per bu fob farm. Long grain may be slightly better at $5.50 or perhaps even $5.60 per bu picked up at the farm.
Missouri reports no big changes this week – bids in the area of $5.40 per bu are not attracting sellers, as the job is to get all of the crops harvested, and combines were seen working late with their lights on. Yields continue to average good numbers, with milling above average (similar to last year). Some concern is being expressed about rain predictions/effects on remaining rice in the fields. Some dryers are starting to fill up as the harvest approaches completion.