ZR - Rough Rice / Price Control - In_Flay_Shun not permittedPaddy 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.
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+4 Billion people are dependent on Rice Production and Consumption.
Why RR has underperformed.
Can't have the Peeps revolting.
Zr
Rice Futures Breakout and Wave CountA 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
Bullish on RiceRice is at a multi-year low/support zone. This is the time to buy. A decisive breach would be extremely bearish though....