According to the reports it has been revealed that the U.S. cash market was firmer today with offers from resellers increasing with the futures market. However, the analysts note that farmers are still in holiday mode and are not very interested in selling at or near the levels resellers will unload while bids from buyers remain about $0.50 per cwt (about $11 per ton) below that level. In the meantime, the USDA narrated that cumulative net export sales for the week that ended on December 17 totaled 42,200 tons, an increase of 14% from the previous week but 17% lower than the prior 4-week average.
Further, these increases were reported for the following destinations: 12,000 tons to Japan, 10,900 tons to Taiwan, 10,800 tons to Saudi Arabia, 6, 500 tons to Guatemala including 5,100 tons switched from unknown destinations and 4,500 tons to Canada, while a reduction of 6,000 tons was reported for unknown destinations. In this regard, the U.S. rice exporters shipped 52,400 tons, an increase of 6% from last week and 7% higher than the prior 4-week average. These increases were reported for the following destinations: 14,000 tons to Haiti, 13,000 tons to Japan, 10,000 tons to Honduras, 6,600 tons to Guatemala, and 3,300 tons to Canada.