US rice lower

US rough rice futures on the Chicago Board of Trade closed lower on Friday, bucking a firm trend across the rest of the grains floor as the US rice harvest wound down, traders said. Values retreated after rallying during Asian trading hours on a lack of supportive fundamental news. November rice fell 19 cents to settle at $15.22-1/2 per hundredweight; January down 19 at $15.55.
Export sales data failed to boost the market; USDA reported sales of US rice in the latest week at 64,000 tonnes, down from the previous week but up 19 percent from the prior four-week average. Volume was moderate at an estimated 1,075 rice futures and 70 options. Vietnam's trade ministry wants the country's finance ministry to scrap an export tax on rice imposed two months ago, a state-run newspaper said.