What it is
A staple food for a large part of the world’s people. Most rice is eaten in the country where it is grown, so the international market is small beside the crop. The Chicago contract is for rough rice, still in its husk; exports from Asia are priced from quotations in Thailand, Vietnam and India.
How it is usually quoted
US dollars per hundredweight in Chicago; US dollars per tonne for Asian exports.
This is the customary unit of the reference market. Other markets for the same commodity may use another unit or currency, and an exchange can change a contract’s terms: its own rulebook is the authority.
Where the reference contract trades
CME (Chicago Board of Trade).
Named for orientation only. Naming an exchange or a market here does not mean that GIO4X gives access to it.
What commonly moves it
- The monsoon across South and South-East Asia
- Export restrictions by the main exporting countries
- Government stockpiles and support prices
- Weather patterns such as El Niño
These are the things people who follow this market usually watch. They explain how the market works; they do not say what the price will do next.
Where it comes from
China and India grow the most, followed by Bangladesh, Indonesia, Vietnam and Thailand. The futures contract reflects the crop of the southern United States.
The order of producers changes from year to year, so no quantities or shares are given here.
At GIO4X
Rice is not offered as a GIO4X instrument. This page is general education about a market that exists elsewhere, and nothing on it means that GIO4X quotes, trades or gives access to it.
The commodities GIO4X does list are Brent crude, gold, natural gas, palladium, platinum, silver and WTI crude.
Words worth knowing
A reference page. Educational information, not investment advice or a recommendation to trade. It gives no price and no forecast.