AFB Rice Close: Futures Move Lower
Rice futures have turned lower today. Resistance at $15.80 has proved to be the top of the up-move this week. Demand remains strong and improving weather will allow farmers to begin to move rice out of their bins.
|Long Grain Cash Bids||– – –||1505/cwt|
|Long Grain New Crop||– – –||1320/cwt|
The ICE Dec and Mar contracts gave back 160 and 87 points on the week, respectively, as last week’s inversion between the two contracts gave way to partial carry. Well,