January 29, 2014
AFB Rice Close: Across the Board Losses
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.
|Long Grain Cash Bids||- – -||1495/cwt|
|Long Grain New Crop||- – -||1340/cwt|