About Rough Rice Futures
Rough Rice, a staple in diets around the world, stands as a fundamental and versatile grain with diverse culinary applications.
As a primary food source for a significant portion of the global population, rough rice is crucial in providing essential nutrients and sustenance. This makes Rough Rice Futures one of the more actively traded Futures contracts in the global commodities market.
Traders can trade Rough Rice Futures and Options on the Chicago Board of Trade (CBOT) through Orient Futures Singapore.
Orient Futures Singapore is overseas intermediary of Shanghai Orient Futures, and offer trading across many different exchanges, such as Dalian Commodity Exchange (DCE), Shanghai International Energy Exchange (INE), Zhengzhou Commodity Exchange (ZCE), and also Chicago Board of Trade (CBOT).
CBOT also offers many other commodity futures that are up for trade. These commodities futures include corn futures, soybeans futures, and soybean oil futurtes.
CBOT Rough Rice Futures Contract Specification:
The CBOT Rough Rice Futures Contract has the following specifications:
The Futures Contract has a tick size of $10.00 per contract.
Contract months are Jan, Mar, May, Jul, Sep, Nov.
The last trading day of the contract month is the business day prior to the 15th calendar day of the contract month.
Chicago Board of Trade trading hours are from Sunday to Friday, at these trading hours:
7:00pm - 9:00pm and 8:30am – 1:20pm (Settles 1:15p.m.) CST
CBOT Rough Rice Futures symbol: ZR
Rough Rice Futures 2023 Performance
Figure 1. CBOT Rough Rice Futures Price from Jan 2023 to Jan 2024 from NASDAQ
According to Reuters, the global rice market tightened in 2023, with Asia experiencing a 30-40% price surge. Factors such as the ongoing Ukraine-Russian War, adverse weather conditions, and the India Rice Export Ban all played significant roles in influencing the price movements in 2023.
This has also caused the global rice prices to hit a 15-year high in September 2023.
Rough Rice Futures News
Rough Rice Supply and Demand
According to Reuters, Asian off-season rice production faces a significant decline in early 2024 due to dry planting conditions, diminishing reservoirs, and the continuation of El Niño weather, tightening global supplies and causing food inflation concerns.
India, the largest rice exporter, and Thailand, the second-largest supplier, are anticipated to experience reduced production, impacting export availability.
Indonesia, a prominent rice importer, grapples with drought-related challenges, further straining its supply. Low reservoir levels also raise worries about water availability, potentially leading to yield losses.
As rice production decreases, India is expected to maintain export restrictions, while Thailand may face lower surplus for exports. With India's export limitations, Thailand and Vietnam are likely to account for a substantial share of global rice deliveries, making trade prices sensitive to weather conditions.
Key importers like Indonesia and the Philippines secure supplies amidst concerns about food inflation. Indonesia experiences delayed planting due to extremely dry conditions, affecting off-season crops.
Soil moisture deficits and reduced reservoir levels in producing states contribute to a forecasted 20% drop in India's winter crop. Indonesia anticipates a delay in planting and harvest due to prolonged dry conditions. Overall, the tightening of rice supplies in Asia, coupled with strong demand, poses challenges to global rice markets in the coming months.
Rough Rice Futures Market Price
According to CME Group, CBOT Rough Rice Futures is priced at USD $17.865, as of 3rd January 2024.
Rough Rice Futures 2024 Market Outlook
According to Gov Capital, Rough Rice Futures have shown a downward trend, indicating that comparable market segments were not particularly favored during the specified period. The report anticipates the Rough Rice Futures price to be $25.31 in a year's time, reflecting a decrease of 41.58%.
Start Trading With Orient Futures Singapore
Overseas Intermediary of Shanghai International Energy Exchange (INE), Dalian Commodity Exchange (DCE), and Zhengzhou Commodity Exchange (ZCE), when foreign clients participate in internationalised futures contracts in these Chinese markets with us, they have direct access to trading, clearing, and settlement. Our parent company, Shanghai Orient Futures, is the largest broker in terms of aggregated volume across the five regulated exchanges in China.
Orient Futures Singapore also currently holds memberships at the Singapore Exchange (SGX), Asia Pacific Exchange (APEX), and ICE Futures Singapore (ICE SG). Starting August 2023, corporate clients can also gain access to the B3 Exchange through us.
We provide bespoke services to our professional clients, tailored to their corporate and individual needs. Our team will be there for you 24 hours on trading days to provide a one-stop portal for all your trades, with simple processes and an intuitive user interface that has low or near-to-zero latency.
