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AFB Rice Close: Futures Take Big Hit

Ernst Undesser
By Ernst Undesser December 12, 2012 17:21

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
medium grain rice is

 

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Ernst Undesser
By Ernst Undesser December 12, 2012 17:21

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