AFB Rice Close: Retraces Losses with Sharp Gains
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.
|Long Grain Cash Bids||– – –||1478/cwt|
|Long Grain New Crop||– – –||1387/cwt|
Rainy and cool best describes the weather over much of the Panhandle and South Plains this week. Rain in Oklahoma brought relief to dryland fields and helped make the pull-back