CBoT rice futures drift lower

Rough rice futures at the Chicago Board of Trade closed lower on Friday on follow-through weakness in quiet trade before the long holiday weekend, traders said. CBOT markets will be closed until on Monday night for the US Memorial Day holiday. July rice ended 1 cent lower at $10.21 per hundredweight, with the back months down 1 to 4 cents.
Volume was on the lighter side estimated at 566 futures and 83 options, but up from the 534 futures and 70 options that traded on Thursday. A lack of news kept prices range-bound, traders said. Man Financial was on both sides of the market for commercial-type clients, traders said. Spread trade was also light.