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AFB Rice Close: Prices Move Lower

Ernst Undesser
By Ernst Undesser January 21, 2014

Rice Comment

Rice prices were also lower. Carryover weakness from other markets was a factor today. While U.S. demand for rice remains good, large global supplies and increased export competition are limiting U.S. export opportunities. With news that the Thailand government is selling rice at a loss, look for U.S. exports to remain suppressed. Resistance for March is last week’s spike high of $15.74. Support begins at $15.36.

        
         
High Low
Long Grain Cash Bids – – – 1495/cwt
Long Grain New Crop – – – 1345/cwt

 

Futures:
High Low Last Change
Mar ’14 1560.0 1545.0 1545.0 -15.0
May ’14 1560.0 1550.5 1549.5 -13.5
Jul ’14 1531.0 1529.0 1532.5 -11.0
Sep ’14 1428.5 1415.0 1420.0 -9.0
Nov ’14 1395.5 -5.5
Jan ’15 1397.5 -3.5
Mar ’15 1397.5 -3.5

 

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Ernst Undesser
By Ernst Undesser January 21, 2014