================================================================================

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                              --------------------
                                   FORM 10-QSB
(Mark one)
[x]      QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
         EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2004

[ ]      TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
         EXCHANGE ACT OF 1934

For the transition period from               to
                               -------------    --------------

                         Commission File Number 0-24285

                              --------------------

                                THE RICEX COMPANY
        (Exact Name of Small Business Issuer as Specified in its Charter)

           DELAWARE                                      68-0412200
(State or other jurisdiction of             (I.R.S. Employer Identification No.)
incorporation or organization)

1241 HAWK'S FLIGHT COURT, EL DORADO HILLS,                               95762
             CALIFORNIA                                               (Zip Code)
(Address of Principal Executive Offices)

         ISSUER'S TELEPHONE NUMBER, INCLUDING AREA CODE: (916) 933-3000

                                 NOT APPLICABLE
         (Former Name, Former Address and Former Fiscal Year, if Changed
                               Since Last Report)

                              --------------------

         Check whether the issuer (1) filed all reports required to be filed by
Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding
12 months (or for such shorter period that the registrant was required to file
such reports), and (2) has been subject to such filing requirements for the past
90 days.  Yes    X    No
               -----      -----

                      APPLICABLE ONLY TO CORPORATE ISSUERS

         State the number of shares outstanding of each of the issuer's classes
of common equity, as of the latest practicable date: 36,713,274 as of May 3,
2004.

         Transitional Small Business Disclosure Format (check one):
                                                           Yes         No    X
                                                                -----      -----

================================================================================
<PAGE>
                                   FORM 10-QSB

                                      Index

PART I.           FINANCIAL INFORMATION

Item 1.           Financial Statements

                  (a) Consolidated Balance Sheet at March 31, 2004             4

                  (b) Consolidated Statements of Operations for the quarters
                      ended March 31, 2004 and 2003                            5

                  (c) Consolidated Statements of Cash Flows for the quarters
                      ended March 31, 2004 and 2003                            6

                  (d) Notes to financial statements                            7

Item 2.           Management's Discussion and Analysis or Plan of Operation    9

Item 3.           Controls and Procedures                                     12

PART II.          OTHER INFORMATION

Item 1.           Legal Proceedings                                           12

Item 2.           Changes In Securities                                       12

Item 3.           Defaults Upon Senior Securities                             12

Item 4.           Submission of Matters to a Vote of Security Holders         12

Item 5.           Other Information                                           12

Item 6.           Exhibits and Reports on Form 8-K

                  (a)Exhibits                                                 13

                  (b)Reports on Form 8-K                                      13

Signatures                                                                    14

Certifications                                                                15
















                                        2
<PAGE>
                           FORWARD-LOOKING STATEMENTS

         This document contains "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. All statements other
than statements of historical fact are "forward-looking statements" for purposes
of federal and state securities laws, including, but not limited to, any
projections of earnings, revenue or other financial items; any statements of the
plans, strategies and objectives of management for future operations; any
statements concerning proposed new services or developments; any statements
regarding future economic conditions or performance; any statements of belief;
and any statements of assumptions underlying any of the foregoing.

         Forward-looking statements may include the words "may," "could,"
"will," "estimate," "intend," "continue," "believe," "expect" or "anticipate" or
other similar words. These forward-looking statements present our estimates and
assumptions only as of the date of this report. Except for our ongoing
obligation to disclose material information as required by the federal
securities laws, we do not intend, and undertake no obligation, to update any
forward-looking statement.

         Although we believe that the expectations reflected in any of our
forward-looking statements are reasonable, actual results could differ
materially from those projected or assumed in any of our forward-looking
statements. Our future financial condition and results of operations, as well as
any forward-looking statements, are subject to change and inherent risks and
uncertainties. The factors impacting these risks and uncertainties include, but
are not limited to:

o        increased competitive pressures from existing competitors and new
         entrants;

o        increases in interest rates or our cost of borrowing or a default under
         any material debt agreements;

o        deterioration in general or regional economic conditions;

o        adverse state or federal legislation or regulation that increases the
         costs of compliance, or adverse findings by a regulator with respect to
         existing operations;

o        loss of customers or sales weakness;

o        inability to achieve future sales levels or other operating results;

o        the unavailability of funds for capital expenditures; and

o        operational inefficiencies in distribution or other systems.

         For a detailed description of these and other factors that could cause
actual results to differ materially from those expressed in any forward-looking
statement, please see "Risk Factors" in our Annual Report on Form 10-KSB for the
year ended December 31, 2003.







                                        3
<PAGE>
PART 1.  FINANCIAL INFORMATION

Item 1.  UNAUDITED FINANCIAL INFORMATION


                                THE RICEX COMPANY
                           CONSOLIDATED BALANCE SHEET
                                 MARCH 31, 2004
                                   (UNAUDITED)

                                          ASSETS

<TABLE>
<CAPTION>
  CURRENT ASSETS:
<S>                                                                                          <C>
       Cash and cash equivalents                                                             $       2,046,012
       Trade accounts receivable                                                                       417,327
       Inventories                                                                                     445,796
       Deposits and other current assets                                                                71,622

               Total current assets                                                                  2,980,757

  PROPERTY AND EQUIPMENT, net                                                                          649,642

  OTHER ASSETS                                                                                          51,486

                                                                                             $       3,681,885
                                                                                             ===================

                           LIABILITIES AND SHAREHOLDERS' EQUITY

  CURRENT LIABILITIES:
       Accounts payable and accrued liabilities                                              $         539,312
       Deferred Revenue                                                                                300,948

               Total current liabilities                                                               840,260

               Total liabilities                                                                       840,260

  SHAREHOLDERS' EQUITY
       Preferred stock, par value $.00l per share, 10,000,000 shares authorized, no
          shares issued and outstanding                                                                     --
       Common stock, par value $.001 per share, 100,000,000 shares authorized,
          38,060,238 shares issued and outstanding                                                      38,060
       Additional paid-in capital                                                                   29,154,425
       Accumulated deficit                                                                         (26,350,860)
               Total shareholders' equity                                                            2,841,625

                                                                                             $       3,681,885
                                                                                             ===================
</TABLE>

        The accompanying notes are an integral part of these consolidated
                              financial statements.




                                        4
<PAGE>
                                THE RICEX COMPANY
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                  QUARTERS ENDED
                                                    --------------------------------------------
                                                     MARCH 31, 2004              MARCH 31, 2003
Revenues
<S>                                                 <C>                        <C>
     Sales                                          $       911,831            $        947,040

                                                            911,831                     947,040

     Cost of sales                                          236,666                     486,422
                                                            675,165                     460,618

Research and development expenses                            49,180                      42,773
Selling, general and administrative expenses                577,167                     550,123
Professional fees                                           128,060                     116,734
Investor relations fees                                       7,454                       9,135

        Loss from operations                                (86,696)                   (258,147)
Other income:
     Interest and other income                                7,203                       5,737
                                                    ----------------           -----------------
        Loss before provision for income taxes              (79,493)                   (252,410)
Provision for income taxes                                       50                       2,275

        Net loss                                    $       (79,543)           $       (254,685)

Basic and diluted earnings per share:
     Net loss per share                             $         (0.00)           $          (0.01)

Weighted average number of shares outstanding            38,060,180                  38,592,336
                                                    ================           =================
</TABLE>

        The accompanying notes are an integral part of these consolidated
                              financial statements.


















                                        5
<PAGE>
                                THE RICEX COMPANY
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                                            QUARTERS ENDED
                                                                                  MARCH 31, 2004      MARCH 31, 2003
Cash flow from operating activities:
<S>                                                                               <C>                 <C>
     Net loss                                                                     $       (79,543)    $     (254,685)
     Adjustments to reconcile net loss to net cash from operating activities:
        Depreciation and amortization                                                      52,619            155,466
        Issuance of warrants and stock options                                                  -              3,000
        Amortization of warrants issued                                                         -             19,140
     Net changes in operating assets and liabilities
        Trade accounts receivable                                                         261,915          1,026,333
        Inventories                                                                      (105,282)            (1,333)
        Deposits and other current assets                                                   4,592             25,072
        Deferred Revenue                                                                 (300,948)                 -
        Accounts payable, accrued liabilities                                              (6,432)          (281,085)
                                                                                  ----------------    ---------------
             Net cash from operating activities                                          (173,079)           691,908

Cash flows from investing activities
     Purchases of property and equipment, and other assets                                      -            (26,495)
                                                                                  ----------------    ---------------
          Net cash from investing activities                                                    -            (26,495)

Cash flows from financing activities
     Repurchase of common stock                                                                 -            (33,939)
                                                                                  ----------------    ---------------
          Net cash from financing activities                                                    -            (33,939)

Net increase in cash and cash equivalents                                                (173,079)           631,474

Cash and cash equivalents, beginning of period                                          2,219,091          1,923,710

Cash and cash equivalents, end of period                                          $     2,046,012     $    2,555,184
                                                                                  ================    ===============
</TABLE>

        The accompanying notes are an integral part of these consolidated
                              financial statements.















                                        6
<PAGE>
                                THE RICEX COMPANY

              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS


1.       DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES

         The RiceX Company ("RiceX"), formerly Food Extrusion, Inc., was
incorporated in California in 1989 and in 1998 was reincorporated in Delaware
and changed its name to The RiceX Company. We have a wholly owned subsidiary,
Food Extrusion Montana, Inc. (FoodEx Montana). The unaudited consolidated
financial statements include the accounts of RiceX and FoodEx Montana,
collectively, after the elimination of all inter-company balances and
transactions.

         We are an agribusiness food technology company, which has developed a
proprietary process to stabilize rice bran. We are headquartered in El Dorado
Hills, California and have stabilization equipment located at one rice mill in
Northern California. We purchase raw rice bran from this mill. Mill employees,
under our supervision, operate our equipment to stabilize rice bran. We pay a
processing fee to the mill for this service. Under an agreement with the mill,
the mill may use our equipment to stabilize rice bran for its customers in
exchange for the payment of a royalty fee to us under certain production
conditions.

         FoodEx Montana is engaged in the business of custom manufacturing
grain-based products for food ingredient companies at its production facility in
Dillon, Montana. The facility has specialized processing equipment and
techniques for the treatment of grain products to cook, enzyme treat, convert,
isolate, dry, and package finished food ingredients. The soluble and fiber
complex form of our rice bran products are produced at the Montana facility.

         There have been no changes in our significant accounting policies as
set forth in the Company's audited financial statements for the year ended
December 31, 2003, which were included in our Form 10-KSB for such year. These
unaudited financial statements for the three months ended March 31, 2004 have
been prepared in accordance with generally accepted accounting principles for
interim financial information. Accordingly, they do not include all of the
information and footnotes required by generally accepted accounting principles
for complete financial statements. In the opinion of management, all adjustments
(consisting of normal recurring accruals) considered necessary for a fair
presentation have been included. The results of operations for the three months
ended March 31, 2004 are not necessarily indicative of the results expected for
the full year.

2.       PROPERTY AND EQUIPMENT

         At March 31, 2004, property and equipment consists of the following:

         Land and buildings                                  $         380,154
         Equipment                                                   4,593,237
         Leasehold improvements                                        381,642
         Furniture and fixtures                                        208,071
                                                                     5,563,104
         Less accumulated depreciation and amortization             (4,913,462)

                                                             $         649,642
                                                             ------------------

                                        7
<PAGE>
3.       ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

         At March 31, 2004, accounts payable and accrued liabilities consist of
the following:

         Trade accounts payable                              $         233,742
         Other accrued liabilities                                     305,570
                                                             $         539,312

4.       PROVISION FOR INCOME TAXES

         While we have a net loss through March 31, 2004, we anticipate positive
net income for year ended December 31, 2004. The Company expects to utilize net
operating loss carry-forwards for federal and state tax purposes for the tax
year ending December 31, 2004. The gubernatorial suspension of applicable net
operating losses by the California Franchise Tax Board will expire in 2004.
California's 2002-03 budget included a suspension of net operating losses for
the 2002 and 2003 taxable years. In return for the suspension, business
taxpayers get a 100% (instead of 60%) net operating loss deduction for taxable
years beginning on or after January 1, 2004; and for any carryover of a net
operating loss for which a deduction is denied by reason of the suspension, the
carryover period is extended for one year for losses sustained in taxable years
in 2002 and two years for net operating losses sustained in taxable years
beginning before 2002. These tax provisions do not include the effect of
Alternative Minimum Tax. Net operating loss carry-forwards expire for federal
tax purposes at various dates from 2011 through 2023 and expire for California
tax purposes at various dates from 2003 through 2013, not including the effect
of the Alternative Minimum Tax. Net operating loss carry-forwards expire for
Montana tax purposes at various dates from 2004 through 2010.

5.       NET INCOME (LOSS) PER SHARE

         Basic net income (loss) per share is computed by dividing net income
(loss) by the weighted average number of common shares outstanding during all
periods presented. Options and warrants are excluded from the basic net income
(loss) per share calculation because they are currently anti-dilutive.

6.       CONCENTRATION OF CREDIT RISK

         Financial instruments that potentially subject us to significant
concentrations of credit risk consist primarily of trade accounts receivable for
sales to major customers. We perform credit evaluations on our customers'
financial condition and generally do not require collateral on accounts
receivable. We maintain an allowance for doubtful accounts on our receivables
based upon expected collection of all accounts receivable. Uncollected accounts
have not been significant.

         For three months ended March 31, 2004, four customers accounted for
26%, 13%, 6%, and 6% of sales, respectively. At March 31, 2004, accounts
receivable due from these four customers were 0%, 22%, 6%, and 5%, respectively,
of the total aged outstanding accounts receivable.

7.       OTHER INFORMATION

         STOCK OPTIONS. At March 31, 2004, the Company has one stock-based
employee compensation plan. We account for this plan under the recognition and
measurement principles


                                        8
<PAGE>
of Accounting Principles Board Opinion No. 25, Accounting for Stock Issued to
Employees, and related Interpretations. No stock-based employee compensation
cost is reflected in net loss, as all options granted under those plans had an
exercise price equal to the market value of the underlying common stock on the
date of grant. The following table illustrates the effect on net loss and
earnings (loss) per share if we had applied the fair value recognition
provisions of Financial Accounting Standards Board Statement No. 123, Accounting
for Stock-Based Compensation, to stock-based employee compensation.

         Subsequent to March 31, 2004, we entered into an agreement to
repurchase 1,346,964 common shares and 3,030,669 warrants for a total purchase
price of $270,005.

<TABLE>
<CAPTION>
                                                                                    MARCH 31,        MARCH 31,
                                                                                       2004            2003
<S>                                                                                <C>              <C>
Net loss, as reported                                                              $    (79,543)    $  (254,685)
Deduct:  Total stock-based employee  compensation expense determined under fair
   value based method for all awards                                                          -               -
Pro forma net income                                                               $    (79,543)    $  (254,685)
Earnings per share:
     Basic and diluted net income per share - as reported                          $       (.00)    $      (.01)
     Basic and diluted net income per share - pro forma                            $       (.00)    $      (.01)
     Weighted average fair value of options granted to employees during the
        quarter                                                                    $          -     $         -
</TABLE>

Item 2.           MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

         The following is a discussion of the consolidated financial condition
of our results of operations for the quarters ended March 31, 2004 and 2003.

QUARTERS ENDED MARCH 31, 2004 AND 2003

         Consolidated revenues through the period ended March 31, 2004 of
$912,000 decreased $35,000, or approximately 4%, from the same period last year.
The revenue decrease is primarily attributed to a year-to-date decrease in sales
of two product lines, Fiber and Solubles. Solubles showed a decrease in revenue
of $107,000, and Fiber decreased $3,000 compared to sales through March 2003.
SRB Regular increased $45,000, and SRB Fine increased $33,000 during the same
period.

         Gross margins through period ended March 31, 2004 were $675,000, or
approximately 74%, compared to $461,000, or approximately 49%, during the same
period last year. The increase in gross margin dollars of $214,000 was primarily
attributed to the decrease in cost of goods sold mainly by adequate production
levels resulting in full absorption of production costs compared to this period
last year. Also contributing to the decrease in cost of goods sold was reduced
depreciation costs of production equipment capitalized to inventory through
period ended March 31, 2004 compared to period ended March 31, 2003.

         Research and development (R&D) expenses reflect a $6,000 increase for
the period ended March 31, 2004 compared to the same period last year. The R&D
expenditures increase was caused by an increase in the allocation of sales,
general, and administration (SG&A) costs attributed to R&D compared to the same
quarter in 2003. The Company expects to continue research and development
expenditures to establish the scientific basis for health claims of existing
products and to develop new products and applications.

                                        9
<PAGE>
         SG&A expenses were $577,000 and $550,000 through periods ended March
31, 2004 and 2003 respectively, an increase of $27,000. The increase was due
mostly to higher costs relating to employee related expenses, sales commissions,
freight, and insurance expenses compared to this period last year. This increase
was anticipated by management based upon their 2004 business plan.

         Professional fees increased $11,000 for the quarter ended March 31,
2004 from $117,000 to $128,000, compared to the same period in 2003. The
increase was due primarily to increased services related to accounting, legal,
and consulting.

         Investor relation fees decreased $2,000 for the quarter ended March 31,
2004 comparably. Essentially, these fees were related to printing, filing, and
preparation costs to comply with SEC requirements for the first quarter ended
March 31, 2004 and 2003, respectively.

         While we have a net loss through March 31, 2004, we anticipate net
positive income for year ended December 31, 2004. The Company expects to utilize
net operating loss carry-forwards for federal and state tax purposes for the tax
year ending December 31, 2004. The gubernatorial suspension of applicable net
operating losses by the California Franchise Tax Board will expire in 2004.
California's 2002-03 budget included a suspension of net operating losses for
the 2002 and 2003 taxable years. In return for the suspension, business
taxpayers get a 100% (instead of 60%) net operating loss deduction for taxable
years beginning on or after January 1, 2004; and for any carryover of a net
operating loss for which a deduction is denied by reason of the suspension, the
carryover period is extended for one year for losses sustained in taxable years
in 2002 and two years for net operating losses sustained in taxable years
beginning before 2002. These tax provisions do not include the effect of
Alternative Minimum Tax. Net operating loss carry-forwards expire for federal
tax purposes at various dates from 2011 through 2023 and expire for California
tax purposes at various dates from 2003 through 2013, not including the effect
of the Alternative Minimum Tax. Net operating loss carry-forwards expire for
Montana tax purposes at various dates from 2004 through 2010.

         We had a net loss of $80,000, or $0.00 per share, through period ended
March 31, 2004, compared to a net loss of $255,000, or $0.01 per share through
period ended March 31, 2003, an improvement of $175,000 over the same period
last year. The comparative improvement was primarily due to the increase in
gross margins of $214,000, mainly caused by a decrease in cost of goods sold,
offset by an increase in SG&A expenses of approximately $27,000. Costs of goods
sold were lower during period ended March 31, 2004 compared to the same period
last year primarily due to fully absorbed production costs at our Montana
facility this year as opposed to experiencing unabsorbed costs last year, in
addition to decreased overhead allocated to inventory because of a decrease in
depreciation expense.

LIQUIDITY AND CAPITAL RESOURCES

         As of March 31, 2004, our source of liquidity was cash and cash
equivalents in the amount of $2,046,000. Our cash and cash equivalents was
$2,219,000 at December 31, 2003, a decrease of $173,000 for quarter ended March
31, 2004. We believe our cash reserve is adequate to meet future short-term
operating requirements.

         We have developed a strategic and financially sound business plan to
meet our ongoing liquidity needs for the year ended December 31, 2004 and
thereafter. We believe that we have

                                       10
<PAGE>
positioned ourselves to become the foremost premium ingredient supplier in the
food manufacturing and animal feed sectors. Our cash position has not required
cash from financing activities in order to fund operations in the four years
since retiring all our debt.

         We continue to broaden our presence in the international markets.
Building on year 2001 successful proof-of-concept program in Guatemala, we
continue to develop and expand international market development activities in
Central America. We have two program approaches, year-to-year applications and
multi-year self sustaining programs. The year-to-year programs approach entails
applications to the United States government for direct purchase sales contracts
financed in part through the United States government's Public Law 416b
programs, with joint participation by the host country government. Therefore,
these commitments require authorizations by each country's authorized
representatives. We will continue to submit 416b program applications to the
United States Department of Agriculture, or USDA for its approval. Due to
domestic and global uncertainties in government programs, there can be no
assurance any of our applications will be approved by USDA. However, management
believes that RiceX Solubles product sales and shipments will continue and
expand into additional Central American countries in the future.

         We are working with major rescue and relief agencies, congressional
supporters and government offices of the USDA and other governmental and private
entities to bring a multi-year program to provide nutritional drinks to one
million children each school day from a RiceX facility located within the
region. We have secured a financing commitment from Overseas Private Investment
Corporation to assist in funding the facility. However, there can be no
assurance that this financial commitment will lead to building a facility in the
Central American region.

         We also continue to initiate strategic alliance discussions to identify
and formulate potential joint venture opportunities with major domestic premium
pet food and equine feed manufacturers and distributors. Domestic markets for
these segments currently represent a potential opportunity of over $250 million
annually. However, there can be no assurance that we will obtain additional
strategic alliances.

         We also have initiated a marketing transition in our domestic
functional food business. During 2003 significant groundwork was laid and
numerous relationships established which, we believe, will produce solid
business growth during 2004 and beyond. Our marketing staff currently has 38
product development projects underway with customers. Several of these customers
are launching new food products this year which will include RiceX products. The
customers include nationally recognized pizza companies, smoothie companies,
nutritional supplement companies and several "ready to eat" food manufacturing
companies. These market segments currently represent multimillion dollar
potential market opportunities. However, there can be no assurance that we will
obtain additional strategic alliances.

         These efforts could significantly increase demand for our products
beyond our current production capacity. While we believe we can increase our
production capacity to meet sales demand, significant additional capital could
be required to meet such expansion requirements. We have sufficient cash
reserves to meet all anticipated short term operating requirements. However, the
timing and amount of any long-term capital requirements cannot be predicted at
this time.

                                       11
<PAGE>
Item 3.           CONTROLS AND PROCEDURES

         (a)      We carried out an evaluation, under the supervision and with
the participation of management, including the Company's principal executive
officer and principal financial officer, of the effectiveness of the design and
operation of the Company's disclosure controls and procedures (as defined under
Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as
amended) as of the end of the period covered by this quarterly report. Based
upon that evaluation, the Company's principal executive officer and principal
financial officer concluded that the Company's disclosure controls and
procedures are effective in timely altering them to material information
relating to us (including the Company's consolidated subsidiary) that is
required to be included in the Company's periodic Securities and Exchange
Commission reports.

         (b)      During the most recent fiscal quarter, there was no change in
the Company's internal control over financial reporting that has materially
affected, or is reasonably likely to materially affect, the Company's internal
control over financial reporting.

PART 2.           OTHER INFORMATION

Item 1.           LEGAL PROCEEDINGS

         From time to time we are involved in litigation incidental to the
conduct of our business. While the outcome of lawsuits and other proceedings
against us cannot be predicted with certainty, in the opinion of management,
none of the litigation in which we are currently involved, individually or in
the aggregate, is expected to result in a material effect on our financial
position or results of operations.

Item 2.           CHANGES IN SECURITIES

         None

Item 3.           DEFAULTS UPON SENIOR SECURITIES

         None

Item 4.           SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

         None

Item 5.           OTHER INFORMATION

         None













                                       12
<PAGE>
Item 6.           EXHIBITS AND REPORTS ON FORM 8-K

         (a)      INDEX TO EXHIBITS

         The following exhibits are attached hereto and filed herewith:





         EXHIBIT
         NUMBER            DESCRIPTION OF EXHIBIT
         -------           ----------------------

          31.1             Certification of Principal Executive Officer Pursuant
                           to ss.302 of the Sarbanes-Oxley Act of 2002

          31.2             Certification of Chief Financial Officer Pursuant
                           to ss.302 of the Sarbanes-Oxley Act of 2002

          32.1             Certification of Principal Executive Officer Pursuant
                           to 18 U.S.C.ss.1350 and ss.906 of the Sarbanes-Oxley
                           Act of 2002

          32.2             Certification of Chief Financial Officer Pursuant to
                           18 U.S.C.ss.1350 andss.906 of the Sarbanes-Oxley Act
                           of 2002


         (b)      REPORTS ON FORM 8-K

         None



























                                       13
<PAGE>
                                   SIGNATURES

         In accordance with the requirements of the Securities Exchange Act of
1934, the registrant caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized:

                                THE RICEX COMPANY

Date:  May 17, 2004                 By: /s/ Todd C. Crow
                                        ----------------------------------------
                                        Todd C. Crow
                                        Director, Vice President, Finance
                                        and Chief Financial Officer














































                                       14