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AFB Rice Close: Retraces Losses with Sharp Gains

Ernst Undesser
By Ernst Undesser October 29, 2013

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