Paddy Rice is the most widely covered spread for an AG Product. 1000+ Cultivars are in Trade within the ZR Instrument. Global rice production is heavily concentrated between China and India @ 52.7% annual global output, with the top 5 producers @ 70% of global supply. ____________________________________________________________________ +4 Billion people are...
Long market entry 13,18 SL 12,73 PT 14,1 BE 13,5 RRR 2:1 CBOT:ZR1!
A major 3 wave followed by a triangular consolidation followed by another major 3 wave? Rice is a basic human commodity needed by many to survive; interesting that it is rising despite the fact that many other agricultural commodities like soy and corn are falling. Much Love GL HF xoxo snoop
Wow, I can only imagine how high this is going to go up. Pandemic, supply chain issues, food shortages, economic, etc. Great hedge on fiat devaluation.
Rice is at a multi-year low/support zone. This is the time to buy. A decisive breach would be extremely bearish though....