Chicago Board of Trade rough rice futures settled mixed on Friday, with speculative liquidation weighing on nearby July, brokers said.
"We hit sell stops in the July contract below the $9.90 level," one CBOT broker said.
"There was also rolling of July positions into the September contract before first notice day on Wednesday, June 30." CBOT rice ended down 22 cents to up 12 cents per cwt, with old-crop July down 22 cents at $9.88 and September up 12 cents at $9.24.
"Commercial trade was quiet, but light buying of July by RJ O'Brien, Man Financial and Reface Inc underpinned the contract," the CBOT rice broker said. US cash markets were quiet on Friday, the CBOT trader added.
CBOT rough rice estimated volume on Friday was 827 contracts, compared with Thursday's volume of 349 lots. Options trade totalled 76 lots.
Comments
Comments are closed.