WASDE Rice: Lower Exports, Higher Domestic Stocks
The outlook for 2020/21 U.S. rice this month is for decreased supplies, unchanged domestic use, lower exports, and higher ending stocks. Supplies are lowered as NASS decreased the all rice production forecast by 0.2 million cwt to 226.1 million, all on lower yields. The all rice yield is forecast at 7,560 pounds per acre, down 7 pounds from the previous forecast. Exports are reduced by 2.0 million cwt to 97.0 million on the slow pace of sales and shipments in the early part of the marketing year (MY) with all the reduction for long-grain.