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AFB Rice Close: September Contract Consolidating

Ernst Undesser
By Ernst Undesser July 31, 2013

Rice Comment

The September Rice futures contract appear to be consolidating between resistance at $16 and support at $15.62. USDA says 69% of the crop is still rated good to excellent. Tough competition on the export market could limit the upside. Cheaper Asian origin rice is making it hard for U.S. rice to compete.

        
         
High Low
Long Grain Cash Bids – – – – – –
Long Grain New Crop – – – – – –

 

Futures:
High Low Last Change
Sep ’13 1599.5 1575.0 1582.5 -7.0
Nov ’13 1620.0 1597.5 1603.5 -8.5
Jan ’14 1640.0 1640.0 1626.0 -10.5
Mar ’14 1640.5 -9.0
May ’14 1654.0 -9.0
Jul ’14 1654.0 -9.0
Sep ’14 1596.0 -9.0

 

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Ernst Undesser
By Ernst Undesser July 31, 2013