Most Thai rice futures contracts closed lower on Wednesday as players unwound positions and took profits from gains seen on the previous day, brokers said.
Overall volume dropped with 193 contracts of five percent white rice traded compared to 209 contracts on Tuesday. The most active January contract ended at 9.90 baht per kg on Wednesday, down from 9.94 baht on Tuesday with the number of contracts traded falling to 132 from 144.
Brokers said the futures price is expected to hold steady over the next few days, in line with the physical price, supported by low supplies before the harvest season next month. Thai five percent white rice has been steady at 9.7 baht per kg this week.
It was 9.6-9.7 baht last week. Thailand, the world's largest rice exporter, started rice futures trading on August 26 with the five-percent white rice grade. November, January, March, May, July and September contracts are offered.
Each contract is for 15 tonnes. Trading hours are 10.30 am to noon (0330-0500 GMT) and there will be an additional session between 1:30 pm and 3 pm (0630-0800 GMT) from November 8.
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