AFB Rice Close: Good weather suggests U.S. plantings will meet expectations

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Rice

Long Grain Cash Bid for	April	1195/cwt	to	- - -
	- - -	- - -	to	- - -

Chicago Futures:	May	down	10 1/2	at	1280 1/2
	July	down	11 1/2	at	1308 1/2
	Sept	down	6 1/2	at	1273 1/2
	Nov	down	6 1/2	at	1284 1/2
	March 2011	down	3	at	1343 1/2
Today's Arkansas LDP rate for long grain rice is					0¢
medium grain rice is					0¢

Rice Comment
Rice prospects remain uncertain as the international market remains weak with offerings from both Thailand and Vietnam continuing lower. At this point U.S. quotes are $70 to $150 over Asian offerings and there is little indication that trend will change. Good weather suggests U.S. plantings will meet expectations. September futures penetrated trendline resistance both Friday and Monday but couldn?t close above that level. Current resistance is around $12.80.

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