AFB Rice Close: September Contract Consolidating
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.
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South Korea reportedly has temporarily halted imports of wheat from Washington state after USDA confirmed the discovery of volunteer genetically engineered wheat growing in the state. Though USDA stated there