AFB Rice Close: Futures Lower After Again Failing at Resistance
Rice futures were lower after again failing at resistance at $15.89 ½. The uptrend remains intact, though, with support currently near $15.35. Another week of lackluster exports continues to weigh on prices as huge global supplies at cheaper prices limit demand for U.S. rice.
|Long Grain Cash Bids||– – –||1504/cwt|
|Long Grain New Crop||– – –||1378/cwt|
For those who spend a lot of effort trying to understand the grain markets and sometimes feel overwhelmed by the complexity of it all, you may want to sit down