You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.


  • Oil prices slide, despite Mideast chaos
    The price of oil fell for the ninth consecutive day Wednesday as global supplies continue to flow despite unrest in the world’s most important oil-producing region.The prolonged drop could lead to lower gasoline prices for U.S.
  • Summer box office suffers
    Hollywood’s summer at the box office isn’t just missing nearly 20 percent of last summer’s revenue. It’s lacking swagger.
  • Biomet’s earnings rebound
    Biomet Inc. on Wednesday reported preliminary fourth-quarter and full-year earnings for fiscal 2014, reflecting the Warsaw orthopedics company’s most profitable performance in years.Biomet reported annual earnings of $36.

Column: Rice poised to rebound?


Corn, wheat and soybeans are the headline-grabbing grains for most U.S. commodities traders, who largely ignore rice.

This is primarily because the United States is a minor rice producer and consumer, making that market less relevant to U.S. farmers and consumers. Nonetheless, the sleepy U.S. rice market can experience wild swings if global production and consumption patterns change.

Prices have been relatively stable near 15 cents per pound for the last year, but some analysts believe that heavy Chinese buying could cause the U.S. market to come to life. Approximately 40 percent of the U.S. rice crop is exported to foreign countries, primarily to Mexico and Turkey.

U.S. rice farmers are currently unable to sell to the growing Chinese market, although there are changes underway that indicate the world’s largest rice consumer could soon open its doors to U.S. exports.

As of midday Friday, rough rice for March delivery, traded in Chicago, was at 15.22 cents per pound, down nearly 40 percent from the all-time high of 24.68 cents in 2008.

USDA report rallies corn

A USDA report released at noon Fort Wayne time on Friday showed increasing demand for corn, and led to projections that the U.S. will run dangerously low on corn before this fall’s crop is harvested.

Prices rallied as much as 24 cents (+ 3.4 percent) on Friday, with corn for March delivery trading at $7.20 per bushel at 1 p.m. Fort Wayne time.

Japanese yen falls, euro rises

After much anticipation, the Japanese government announced a new stimulus package Friday. The stimulus package will amount to 10.3 trillion yen (more than $110 billion) in new government spending aimed at stopping deflation and reviving the struggling Japanese economy. The stimulus package effort was led by the newly elected Japanese Prime Minister Shinzo Abe, who has vowed to renew Japanese economic competitiveness by weakening the Japanese yen so that Japanese goods can become cheaper in the world market. It is widely believed the new stimulus package will be paid for by new yen printed by the Bank of Japan, and will therefore lead to higher inflation in the island country.

During the week, the Japanese yen fell to 1.12 cents (- 1.5 percent), the lowest price in 2 1/2 years.

Unlike the yen, which has been in a sharp downtrend, the euro currency exploded upward this week following reports the European Central Bank would not lower interest rates as expected. One euro was trading at 1.3333 U.S. dollars late Friday morning.

Walt Breitinger is a commodity futures broker in Valparaiso. He can be reached at (800) 411-3888 or This is not a solicitation of any order to buy or sell any market.