Agfax Buzz:

    July 9, 2013

    AFB Rice Close: Futures Appear to Have Found Technical Support

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    Closing commodity reports from the Arkansas Farm Bureau Commodity Staff.

    Rice Comment

    The near free-fall in rice futures finally stalled as futures appear to have found some technical support. September held at support at $15 yesterday, which has provided support for the market for over 3 months. The rice market continues to monitor the weather situation across the rice growing region. USDA said in the weekly condition’s report that 69% of the rice crop is in good to excellent condition.

     

    High Low
    Long Grain Cash Bids - – - 15.43
    Long Grain New Crop 12.91 12.71

     

    Futures:
    High Low Last Change
    Jul ’13 1541.5 +39.0
    Sep ’13 1529.5 1480.5 1519.5 +39.0
    Nov ’13 1545.0 1509.0 1544.5 +38.0
    Jan ’14 1570.0 1537.0 1567.0 +35.5
    Mar ’14 1581.5 +35.5
    May ’14 1596.0 +35.5
    Jul ’14 1596.0 +35.5
    Sep ’14

     

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