AFB Rice Close: Prices Continue Lower

Ernst Undesser
By Ernst Undesser October 4, 2013 15:52

The Latest

 

AgFax Media. LLC

142 Westlake Drive Brandon, MS 39047

601-992-9488 Office

Owen Taylor Debra L. Ferguson Laurie Courtney

      

Circulation Questions?

Contact Laurie Courtney

 

Rice Comment

Harvest pressure and the expiration of the farm bill continue to weigh on rice futures. A 100 million metric ton stockpile of rice in Asia is also looming large over the market. November futures have violated several levels of support so far this week and ended the week by charting a bearish reversal on Friday. The next level of support is the March low of $14.77. On the weekly continuation, there is support at $14.63 and $14.50. Psychological resistance will be seen at $15 on a rebound.

        
         
High Low
Long Grain Cash Bids – – – 1417/cwt
Long Grain New Crop – – – 1315/cwt

 

Futures:
High Low Last Change
Nov ’13 1517.0 1485.5 1487.0 -3.0
Jan ’14 1536.5 1507.0 1508.0 -4.0
Mar ’14 1537.0 1531.0 1526.0 -5.5
May ’14 1543.0 -5.0
Jul ’14 1556.5 -5.0
Sep ’14 1414.5 -5.0
Nov ’14 1414.5 -5.0

 

Tags:


Ernst Undesser
By Ernst Undesser October 4, 2013 15:52

The Buzz

Socially Speaking

From Australian From Arkansas From Mississippi From Ontario, Canada...