International: Thai quotes dropped $75 from last month’s $825 per ton, FOB to $750.

Domestic: U.S. #2/4 long grain milled rice quotes dropped by $55 from $930 to $875 per ton, FOB. However, year to year, the spread widened between comparable qualities of Thai and U.S. rice, which is $125 per ton compared to $75 per ton this time last year. World prices have continued to soften in part because buyers are purchasing Vietnamese rice, which is cheaper than Thai rice.

California medium grain #1/4 prices are quoted at $1150 per ton, FOB for new crop.

• Egypt is lowered by 200,000 tons to 800,000 in 2009 because of the extension of its export ban until April 2009.

• Vietnam is raised 700,000 tons to a record 5.2 million, mainly due to continued strong demand and better autumn crop prospects.

• U.S. exports are up 175,000 tons to 3.3 million based on expected strong demand and additional exportable supplies for long grain rice.

• Egypt’s shipments are down by 350,000 tons to 450,000 in 2008 due to its export ban.

• Philippines’ imports are raised 300,000 tons to a record 2.4 million because of large import demand and an unexpected purchase from Vietnam.