AFB Rice Close: Futures Ended The Day On The Positive Side

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Rice Comment

Rice futures ended the day on the positive side but fundamentals remain negative. A big 2010 U.S. crop and big Thai intervention stocks will limit upside potential. Another Iraqi tender is anticipated, but U.S. price levels would likely need to be as much as $40 lower to get strong consideration. With a big harvest just weeks away, U.S. mills will need new sales.

Long Grain Cash Bid for	July	835/cwt	to	- - -
	Aug/Nov	934/cwt	to	- - -

Chicago Futures:	Sept	down	1/2	at	1014
	Nov	up	1/2	at	1039 1/2
	Jan 11	up	1/2	at	1065 1/2
	Mar 11	unchanged		at	1092
	May 11	unchanged		at	1121 1/2
Today's Arkansas LDP rate for long grain rice is					0¢
medium grain rice is					0¢

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