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Rice Climbs by Daily Limit on Thai Flood Damage
WSJ ^ | 10/24/11 | TOM POLANSEK

Posted on 10/25/2011 3:22:40 PM PDT by TigerLikesRooster

Rice Climbs by Daily Limit on Thai Flood Damage

BY TOM POLANSEK

CHICAGO—U.S. rice futures surged on expectations that severe flooding will cause significant crop losses in Thailand, the world's top exporter of the grain.

Rough rice futures climbed the maximum amount allowed on the Chicago Board of Trade, with the nearby November contract ending half a cent, or 3%, higher at 16.905 cents a pound, its highest settlement price in a month. The contract ...

(Excerpt) Read more at online.wsj.com ...


TOPICS: Business/Economy; Foreign Affairs; News/Current Events
KEYWORDS: flood; rice; thailand

1 posted on 10/25/2011 3:22:45 PM PDT by TigerLikesRooster
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To: TigerLikesRooster; PAR35; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; ...

P!


2 posted on 10/25/2011 3:24:00 PM PDT by TigerLikesRooster (The way to crush the bourgeois is to grind them between the millstones of taxation and inflation)
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To: Kartographer; Red_Devil 232

For the lists, ping


3 posted on 10/25/2011 3:24:16 PM PDT by Uncle Ike (Rope is cheap, and there are lots of trees...)
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To: TigerLikesRooster

U understand rice as a commodity and being a large part of the world food supply in the more tropical regions.

And I have probably 40 lbs or so stashed.

BUT!!!

Rice always has struck me as being pretty much “a food without a personality”!

Gimme red beans, black beans, split peas, heck, something that has something real to it...

;-)


4 posted on 10/25/2011 3:31:34 PM PDT by djf (Soon you will need a prescription for EVERY SINGLE VITAMIN.)
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To: alieno nomine; angkor; Brian Allen; bsariwat; Central Scrutiniser; colorado tanker; expat1000; ...

Thai Ping


5 posted on 10/25/2011 3:40:25 PM PDT by ASA Vet (Natural-born citizens, are those born in the country, of parents who are citizens. De Vattel)
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To: AlexW; Berosus; buwaya; knarf; LadyDoc; Mark17; max americana; ut1992

PI Ping


6 posted on 10/25/2011 3:42:02 PM PDT by ASA Vet (Natural-born citizens, are those born in the country, of parents who are citizens. De Vattel)
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To: TigerLikesRooster

Rice was $18 for a fifty lb. bag at Sam’s club today.


7 posted on 10/25/2011 3:45:11 PM PDT by Sawdring
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Do You Want FR To Survive?


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Then Support Your Forum

8 posted on 10/25/2011 4:18:08 PM PDT by DJ MacWoW (America! The wolves are here! What will you do?)
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To: TigerLikesRooster

We bought three fifty pound bags of Super Lucky Elephant brand at Costco last week.

Should last us to the next crop.


9 posted on 10/25/2011 4:38:08 PM PDT by Flash Bazbeaux
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To: TigerLikesRooster

Here in Sattahip (south of Pattaya), there is rice but almost no rice noodles in the stores at all.


10 posted on 10/25/2011 5:11:31 PM PDT by expat1000
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To: expat1000

Higher rice prices aren’t all bad. It might force them to eat the cheaper and better brown rice. White rice and white bread are slave foods. Henry Miller famously said that white bread was only good for filling potholes in the streets


11 posted on 10/25/2011 5:17:14 PM PDT by dennisw (What good is a used up world and how could it be worth having - - Sting)
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To: expat1000

Seems hard drive prices have skyrocketed over the past few days too because of the flooding in SE Asia.


12 posted on 10/25/2011 5:18:12 PM PDT by VeniVidiVici ("Si, se gimme!")
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To: expat1000
I read that more flood water is going down toward Bangkok. Would Pattaya be OK? It's a seaside resort town not far from Bangkok, as far as I know.
13 posted on 10/25/2011 5:19:04 PM PDT by TigerLikesRooster (The way to crush the bourgeois is to grind them between the millstones of taxation and inflation)
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To: TigerLikesRooster

I will tell my newly arrived Thai in-laws that they have to eat more wheat bread.


14 posted on 10/25/2011 5:22:36 PM PDT by USMCPOP (Father of LCpl. Karl Linn, KIA 1/26/2005 Al Haqlaniyah, Iraq)
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15 posted on 10/25/2011 6:06:49 PM PDT by TheOldLady (FReepmail me to get ON or OFF the ZOT LIGHTNING ping list)
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To: dennisw

“Higher rice prices aren’t all bad. It might force them to eat the cheaper and better brown rice”

Thais are not going to eat brown rice any more than westerns would fried crickets and grasshoppers. And I don’t think it is cheaper - not here.


16 posted on 10/25/2011 6:48:41 PM PDT by expat1000
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To: TigerLikesRooster

Pattaya is quite far from Bangkok. It has its own floods from heavy rains (not from the sea) but is a resort as you say, so if it floods it’s just an inconvenience.

Bangkok though, is the commercial, industrial and financial heart of Thailand. If it becomes impossible to move freely (and I use the word loosely, given the horrendous traffic there) around the city and the infrastructure is seriously affected with power outages, for example, then that affects everyone.

Toyota is shut down, which will affect all of SE Asia. Seagate has some serious problems which will mean a shortage of hard drives, including in the USA as this is a huge plant that supplies international markets.

Locally, foodstuff stocks in the grocery stores are down (my guess) around 40%, especially butchered products - mostly pork.


17 posted on 10/25/2011 6:59:03 PM PDT by expat1000
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To: Flash Bazbeaux

How do you store that much rice?


18 posted on 10/25/2011 7:14:23 PM PDT by FreedomPoster (Islam delenda est)
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To: TigerLikesRooster

Stocking up on rice and peanut butter this week! Thank goodness my gold and silver are perking up again. :)


19 posted on 10/26/2011 6:28:46 AM PDT by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set...)
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19 posts! 19?
You People are slipping, so here goes:

THAILAND?!?

20 posted on 10/26/2011 6:33:00 AM PDT by Constitution Day
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To: FreedomPoster

“How do you store that much rice?”

Three fifty-pound bags. Mrs. Flash wanted to put two in the garage, but I was afraid rats would get it, so they’re in my bedroom closet. They’re not all that big.


21 posted on 10/26/2011 10:24:59 AM PDT by Flash Bazbeaux
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To: Flash Bazbeaux
When I owned an Asian market, I'd buy Arkansas long grain white rice & brown rice in 100 lb bags, which I sold in bulk by the lb.

When I owned a Thai resturant I bought Thai Jasmine Rice in 50 lb bags.

Now I buy Thai Jasmine rice in 25 lb bags at Sams Club. One fits nicely in a plastic storage container. Not air tight, but tight enough bugs can't get in. Store where dry and cool.

22 posted on 10/26/2011 10:42:19 AM PDT by ASA Vet (Natural-born citizens, are those born in the country, of parents who are citizens. De Vattel)
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