Agfax Buzz:

    August 20, 2013

    AFB Rice Close: Futures Post Solid Gains

    AgFax.Com - Your Online Ag News Source

    Closing commodity reports from the Arkansas Farm Bureau Commodity Staff.

    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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