Chicago Board of Trade rough rice futures settled lower on Friday after speculative selling again outweighed scale-down commercial buying, brokers said.
"We had continued sales after on Thursday's poor technical close," one CBOT rice broker said. "There was scale-down commercial buying from RJ O'Brien and Man Financial bought and throughout the day."
CBOT rice ended down 5-1/2 to 11 cents per cwt, with July down 5-1/2 cents at $10.01, after hitting a near eight-week low of $9.93 and September down 10 cents at $9.18.
CBOT rough rice estimated volume on Friday was 448 contracts, compared with Thursday's volume of 329 lots. Options trade totalled 68 lots.
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