UACES Facebook Rice Outlook - Focusing on India, China and Chicago Markets
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Food and Agribusiness Webinars

Webinar Series Produced by University of Arkansas System Division of Agriculture


Host and Interviewer

Bobby Coats
Professor - Economics

University of Arkansas System Division of Agriculture
Department of Agricultural Economics and Agribusiness

Executive Producer

Mary Poling
Coordinator of Interactive Communications

University of Arkansas System Division of Agriculture
Office of Information Technology

Rice Outlook - Focusing on India, China and Chicago Markets

by Bobby Coats - July 19, 2018

The two big “elephants” of rice are India and China but for the Americas rice market, Chicago is also important and watched around the world. This talk covered the interplay of India and China in determining price trends and the role of wheat in setting the value of rice long term. This is a talk Milo presented in the Dominican Republic in June reconfigured for American rice growers and their marketing needs. Milo says, “There are a lot of misconceptions about what rice futures are and are not. In this talk I tried to add some clarity to your rice thinking. I have traded over $100 million of rice for 18 years and have advised the rice marketing chain for a similar number of years. What you object to about the rice market or do not understand might actually improve your bottom line. I provided a context for how you view the world of rice. You need to understand how trends happen and turn around. The next one to two years will be exciting times for the food grains, if you can weather the current storm of diminishing profitability.”

Milo Hamilton, President, Founder and Senior Economist, Firstgrain, Austin, TX Bio Photo

For three decades Milo Hamilton has covered the world of rice for his customers. For 18 years he bought rice for Uncle Ben’s Inc., a Mars Incorporated company. For the last 14 years, his company, Firstgrain, has advised sophisticated rice firms and farmers on the market and its relationship to everything else. It focuses on long-term and short-term changes and gives others an edge. It seeks to level the playing field for rice farmers to help them prosper and to respect each other as professionals. The current clientele of Firstgrain includes CEOs of rice firms and farms across the globe. Milo Hamilton travels throughout the Americas, Europe and Asia sharing his expert message on the global rice market with these firms, farmers, associations, and bureaus.

In recent years, Milo Hamilton grew concerned about the global impact of change from the rural rice markets in Asia. As a world expert on rice, his concern led him to write his book When Rice Shakes the World; so others might know what could happen and what should happen as the East and the West collide.