NEWS
Farm Service Agency
Public Affairs Staff
1400 Independence Ave SW
Stop 0506, Room 3633-South
Washington, D.C. 20250-0506
Release No. 1415.04
Program Announcement
Latawnya Dia (202) 720-7962
USDA ANNOUNCES PREVAILING WORLD MARKET PRICES
AND LOAN DEFICIENCY PAYMENT RATES FOR RICE
WASHINGTON, Jan. 20, 2004-The Department of Agriculture's Commodity
Credit Corporation today announced the following prevailing world
market prices of milled and rough rice, adjusted for U.S. milling
yields and location, and the resulting marketing loan gain (MLG)
and loan deficiency payment (LDP) rates applicable to the 2003 crop,
which will become effective today at 3:00 p.m., Eastern Time (ET).
Prices are increased $0.07 per cwt for long and medium grain
rice and $0.08 for short grain rice, resulting in corresponding
decreases in MLG/LDP rates.
--------World Price------- MLG/LDP Rate
Milled Value Rough Rough
($/cwt) ($/cwt) ($/cwt)
Long Grain 6.69 4.17 2.47
Medium Grain 6.28 3.95 2.14
Short Grain 6.29 4.01 2.17
Brokens 3.35 ---- ----
This week's prevailing world market prices and MLG/LDP rates are based
on the following U.S. milling yields and the corresponding loan rates:
U.S. Milling Yields Loan Rate
Whole/Broken
(lbs/cwt) ($/cwt)
Long Grain 56.38/11.98 6.64
Medium Grain 56.41/12.21 6.09
Short Grain 57.92/11.03 6.18
The next price announcement is scheduled for Jan. 27, 2004, at 3:00 p.m.,
ET. Further program information is available from Tom Tice, (202) 720-2891,
E-mail address Tom_Tice@wdc.usda.gov.
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Note: The Farm Service Agency's (FSA) news releases and media advisories are
available on the World wide Web at FSA's Home Page: http://www.fsa.usda.gov.
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