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AFB Rice Close: Futures Post Solid Gains

Ernst Undesser
By Ernst Undesser August 20, 2013 16:30

Rice Comment

Rice futures posted solid gains today, with September futures moving to the highest level in more than two weeks. However, November charted a bearish key reversal in Monday’s trade, and today saw the contract find resistance again at Monday’s high of $15.79 ½. In the meantime, prices continue to consolidate in about a $1 trading range between $15 and $16. The condition of this year’s rice crop continues to look good, but farmers are worried that cool, cloudy conditions could negatively impact grain fill during heading.

        
         
High Low
Long Grain Cash Bids – – – 1508/cwt
Long Grain New Crop – – – 1395/cwt

 

Futures:
High Low Last Change
Sep ’13 1579.5 1550.5 1578.0 +27.5
Nov ’13 1579.5 1553.0 1578.0 +20.5
Jan ’14 1582.5 1578.0 1597.5 +20.0
Mar ’14 1616.5 +18.5
May ’14 1633.0 +18.5
Jul ’14 1633.0 +18.5
Sep ’14 1495.0 +13.0
Nov ’14

 

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Ernst Undesser
By Ernst Undesser August 20, 2013 16:30

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