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AFB Rice Close: Across the Board Losses

Ernst Undesser
By Ernst Undesser January 29, 2014

Rice Comment

Rice posted across the board losses, but continues to trade in a narrow sideways pattern. 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 $15.74. Support begins at $15.36.

        
         
High Low
Long Grain Cash Bids – – – 1495/cwt
Long Grain New Crop – – – 1340/cwt

 

Futures:
High Low Last Change
Mar ’14 1552.5 1545.0 1545.0 -7.0
May ’14 1553.5 1545.5 1548.5 -4.0
Jul ’14 1523.5 1522.0 1528.0 -1.5
Sep ’14 1412.0 1410.0 1415.0 -3.0
Nov ’14 1395.0 1390.0 1395.0 -7.0
Jan ’15 1397.0 -7.0
Mar ’15 1397.0 -7.0

 

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Ernst Undesser
By Ernst Undesser January 29, 2014