Rough Rice Futures
Agriculture · Monthly series · CBOT:ZR1!
Latest, October 2026
17.91 USD/CWA
+10.8% from September 2026
Forecast
Forecast for October 2027: 17.24 USD/CWA, with an 80% interval of 12.66 USD/CWA to 22.86 USD/CWA.
| Period | Forecast | 80% low | 80% high |
|---|---|---|---|
| November 2026 | 17.99 USD/CWA | 15.12 USD/CWA | 20.68 USD/CWA |
| December 2026 | 17.89 USD/CWA | 14.97 USD/CWA | 20.74 USD/CWA |
| January 2027 | 17.82 USD/CWA | 13.89 USD/CWA | 21.83 USD/CWA |
| February 2027 | 17.73 USD/CWA | 13.74 USD/CWA | 21.94 USD/CWA |
| March 2027 | 17.65 USD/CWA | 14.07 USD/CWA | 21.62 USD/CWA |
| April 2027 | 17.58 USD/CWA | 12.94 USD/CWA | 22.79 USD/CWA |
| May 2027 | 17.52 USD/CWA | 13.50 USD/CWA | 22.09 USD/CWA |
| June 2027 | 17.45 USD/CWA | 13.52 USD/CWA | 21.94 USD/CWA |
| July 2027 | 17.40 USD/CWA | 11.93 USD/CWA | 23.77 USD/CWA |
| August 2027 | 17.35 USD/CWA | 12.83 USD/CWA | 22.77 USD/CWA |
| September 2027 | 17.31 USD/CWA | 11.76 USD/CWA | 24.00 USD/CWA |
| October 2027 | 17.24 USD/CWA | 12.66 USD/CWA | 22.86 USD/CWA |
AI confidence
Mixed evidenceThe tests show no consistent, material advantage over the no-change baseline.
Model: Timestral (foundation model)
- Error vs baseline
- 1% lowerError ratio 0.99; 1.00 is a tie.
- Tests won
- 4 / 6Complete recent tests excluded from model selection; ties count as no win.
- Test period
- 2020-11-01 to 2026-10-0112 observations ahead per test.
- 80% band coverage
- 81%Observed outcomes inside the band across all stored test windows.
- Band coverage uses all stored test windows, including model-selection windows when present; it does not determine the confidence label.
- Evaluated 2026-11-04 against the cached history through 2026-10-01.
How this assessment is made
AI confidence describes historical evidence for this forecast, not a probability of being correct. Each backtest fits on data available before its test window. The baseline carries the last value forward. Supported evidence requires at least six complete, non-overlapping tests, an error ratio below 0.90 (rounded to two decimals), and wins in a majority of tests. Ratios from 0.90 to below 1.10 are on par; 1.10 or above is weak evidence. Inconsistent wins produce mixed evidence. For a selected model, only the recent tests excluded from model selection determine this label. These are historical simulations using the available data, not a live trading track record; revisions and foundation-model pretraining can limit how closely they reproduce a past decision. Past performance can change.
Model comparison
4 of 4 models evaluatedModels are selected on older tests and evaluated on separate recent tests. All four classes completed their backtests.
Models tested
Timestral scored lowest on the 6 older tests (0.98) and was chosen. The 6 recent tests played no part in the choice and give its grade (0.99). The search for a model that beats the naive forecast on both sets of tests goes on. Scores are MASE: a model's errors divided by the naive forecast's, so 1 is a tie.
4 model classes completed the tests: Foundation model, Statistical, Machine learning, Neural network.
| Model | Class / library | Older tests | Recent tests | Role |
|---|---|---|---|---|
| Timestral (foundation model) | Foundation model · Timestral · GPU | 0.98 | 0.99 | Serving |
| Naive forecast (last value held) | Benchmark · CPU | 1.00 | 1.00 | Benchmark |
| AutoETS (statistical) | Statistical · StatsForecast · CPU | 1.00 | 1.00 | Tested |
| CatBoost (machine learning) | Machine learning · MLForecast · CPU | 1.32 | 1.09 | Tested |
| N-HiTS (neural network) | Neural network · NeuralForecast · CPU | 1.50 | 1.00 | Tested |
Reading
It is above 97% of the 119 earlier readings since November 2016.
Recent history (24 observations)
| Period | Value |
|---|---|
| October 2026 | 17.91 USD/CWA |
| September 2026 | 16.16 USD/CWA |
| August 2026 | 15.72 USD/CWA |
| July 2026 | 13.96 USD/CWA |
| June 2026 | 13.29 USD/CWA |
| May 2026 | 12.61 USD/CWA |
| April 2026 | 11.15 USD/CWA |
| March 2026 | 11.38 USD/CWA |
| February 2026 | 10.74 USD/CWA |
| January 2026 | 11.03 USD/CWA |
| December 2025 | 9.93 USD/CWA |
| November 2025 | 10.07 USD/CWA |
| October 2025 | 10.60 USD/CWA |
| September 2025 | 11.16 USD/CWA |
| August 2025 | 12.17 USD/CWA |
| July 2025 | 12.28 USD/CWA |
| June 2025 | 13.33 USD/CWA |
| May 2025 | 13.49 USD/CWA |
| April 2025 | 13.21 USD/CWA |
| March 2025 | 13.57 USD/CWA |
| February 2025 | 13.51 USD/CWA |
| January 2025 | 13.85 USD/CWA |
| December 2024 | 14.10 USD/CWA |
| November 2024 | 15.21 USD/CWA |
Source
Data: CBOT feed via TradingView.
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