The U.S. 2016/17 all rice crop is reduced 10.6 million cwt to 224.1 million on lower area and yield. The all rice average yield is lowered 256 pounds per acre to 7,237 pounds. Arkansas, California, and Texas accounted for the bulk of the production decline.
The long-grain crop is reduced 9.6 million cwt to 166.5 million but remains the largest since the 2010/11 record. Medium- and short-grain production is lowered 1.0 million cwt to 57.7 million. All rice domestic and residual use is lowered 1.0 million cwt to 132.0 million, based on the smaller crop.
Total exports are unchanged, but rough exports are raised 1.0 million cwt, which is offset by a 1.0-million-cwt reduction in milled exports. In addition, long-grain exports are lowered 1.0 million cwt, offsetting an increase by the same amount for medium- and short-grain exports.
The projected all rice season-average farm price is unchanged at a range of $9.90 to $10.90 per cwt.
Global rice supplies for 2016/17 are lowered 1.5 million tons led by a 0.7 million-ton-reduction for Sri Lanka production. Global exports and domestic consumption are both raised fractionally. Ending stocks are lowered 1.5 million tons to 118.7 million.
