US rice futures slide

US rough rice futures on the Chicago Board of Trade dived on Tuesday on spillover selling from the weakness in other commodity markets, traders said. As crude oil dived the dollar rallied - both bearish inputs for commodities. September rice ended 75 cents lower at $18.15 per hundredweight. November closed 62 weaker at $18.35.
Price limits revert back to normal for Tuesday night trade: 50 cents from 75 cents. Volume was light estimated at 676 futures and 40 options. Underpinning prices were worries about harvest delays as rains from Hurricane Gustav hits major US rice areas, traders said. USDA reported late Tuesday that the American rice harvest was 12 percent complete, versus the seasonal average of 20 percent by late August.