Bad news: That cheap bowl of rice you were counting on to stretch your paycheck may soon get pricey. Good news: You'll be able to profit off the coming move, although you'll need to be nimble.
It's happening because Western Hemisphere farmers are cultivating less rice while inventories are set to plummet. "Stocks are running low now, and rice prices do not go down when acreage goes down," writes Milo Hamilton, in a recent edition of his newsletter, The Firstgrain Rice Market Strategist. "Never [has that happened] in any year that we have traded rice, which is for over 30 years."
In short, prices are going higher. See original story here.
Rice Paddy
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