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Chicago Board of Trade rough rice futures rallied on Tuesday after the market gapped higher on the open, triggering speculative short covering and outright buying, traders said. Also supportive were expectations that the US Agriculture Department would raise its world market price for rice in its weekly report late on Tuesday.
January rice was 30 cents higher at $7.43 per hundredweight by 10:38 am CST (1638 GMT).

Copyright Reuters, 2004

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