#RiceFutures traded near $14.5 per hundredweight, hitting a two-week low, as expectations of higher supplies weighed on prices. The #USDA’s January #WASDE report projected increased U.S. supplies, higher domestic usage, steady exports, and lower ending stocks. U.S. rice production was estimated at 222.1 million cwt, up 2.3 million from the previous estimate, with significant gains in #Texas and #Missouri. Meanwhile, #India’s rice stocks hit a record 60.9 million tonnes at the start of January, eight times the government’s target of 7.6 million tonnes, potentially allowing the country to ramp up exports. This follows India’s decision to lift its rice export ban in the second half of 2024, which had previously driven global rice prices to their highest level in over 15 years due to restrictions on white rice exports and a 20% duty on parboiled rice. #RiceMarket #Agriculture #Commodities #GlobalTrade #SupplyDemand