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Agfax Buzz:

    December 12, 2012

    AFB Rice Close: Futures Take Big Hit

    AgFax.Com - Your Online Ag News Source

    Closing commodity reports from the Arkansas Farm Bureau Commodity Staff.

    Rice Comment
    Rice futures took a hit late in the session and closed substantially lower. Demand remains steady with mills look into the first of the year. January futures have resistance at $15.60, which if penetrated would suggest a potential move to $15.82 which is the 62% retracement objective.

    Long Grain Cash Bid for Dec 1415/cwt  to - – -
    NC 1451/cwt  to - – -

     

    Chicago Futures: Jan down 17 1/2 at 1534 1/2
    March down 17 at 1566 1/2
    May down 17 at 1599 1/2
    July down 17 at 1616 1/2
    Sept down 15 at 1551
    Today’s Arkansas LDP rate for long grain rice is 0¢
    medium grain rice is 0¢

     

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