Wednesday, 17 March 2010

Rough Rice futures commentary for March 16th.

Rice ended higher, extending its bounce amid widespread commodity gains. After plunging through the start of March, the market has now closed higher three straight days. But it is still well below last week’s high. “You can’t say it’s a bottom yet,” a floor trader said. Still, buying interest has increased, traders said, particularly in deferred contracts. Aweaker dollar helped push commodities higher generally, analysts said. May rice ended up 12 cents to $12.60 1/2 per hundredweight, and July rice closed up 11 1/2 cents to $12.90 1/2.

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