AFB Rice Close: Futures Were Mixed
Rice futures were mixed, with September futures now nearly $1 above November. There is very little old crop rice to be had at this point, and the number of warehouse receipts outstanding is at a historical low. November appears to have tough resistance at $16. He crop is still in good condition, but hot dry weather during grain fill could negatively impact quality.
|Long Grain Cash Bids||– – –||1501/cwt|
|Long Grain New Crop||– – –||1381/cwt|
The ICE Dec and Mar contracts gave back 160 and 87 points on the week, respectively, as last week’s inversion between the two contracts gave way to partial carry. Well,