AFB Rice Close: Retraces Losses with Sharp Gains

Ernst Undesser
By Ernst Undesser October 29, 2013 16:34

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Rice Comment

November rice completely retraced Monday’s losses and ended the day up sharply. The market again found resistance at $15.60, however. USDA says that 94% of the U.S. crop has been harvested, while Arkansas farmers ended last week with 92% of their crop in the bins. World supplies are comfortable, with a large stockpile of rice in Asia looming over the market, limiting upside potential.

        
         
High Low
Long Grain Cash Bids – – – 1478/cwt
Long Grain New Crop – – – 1387/cwt

 

Futures:
High Low Last Change
Nov ’13 1560.0 1533.5 1558.0 +22.0
Jan ’14 1548.0 1525.5 1547.5 +21.5
Mar ’14 1556.0 +15.0
May ’14 1576.0 +14.5
Jul ’14 1585.0 +14.5
Sep ’14 1487.0 +13.5
Nov ’14 1487.0 +13.5
Jan ’15

 

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Ernst Undesser
By Ernst Undesser October 29, 2013 16:34

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