Market Outlook

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U.S. 2024/25 Import Forecast Raised 1.0 Million Hundredweight to a Record 46.5 Million

There are several revisions this month to the U.S. 2024/25 rice balance sheet. On the supply side, carryin is increased 1.0 million hundredweight (cwt) to 39.4 million, up 30 percent from a year earlier. Production is lowered 1.0 million cwt to 219.75 million, still fractionally above a year earlier. Imports are raised 1.0 million cwt to a record 46.5 million. On the 2024/25 use side, domestic and residual use is lowered 1.0 million cwt to 159.0 million, still the highest on record. Although total exports remain projected at 101.0 million cwt, there is a 1.0-million cwt shift to milled-rice exports from rough-rice exports. On balance, these revisions raised ending stocks 2.0 million cwt to 45.6 million, 16 percent larger than a year earlier.

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