US rough rice futures on the Chicago Board of Trade slipped to contract lows on Wednesday, a week-long trend, as big world stocks coupled with soft demand for American rice triggered sales, traders said. -- Rice ended lower despite the firmer close in other CBOT grains. Rice is technically weak trading at prices not seen since November of 2007.
Front three months notched contract lows. March rice ended 3 cents per hundredweight lower at $12.30, after dipping to a contract low $12.25. May ended 1-1/2 cent down $12.45-1/2, rebounding some from its new contract low of $12.38. Volume was moderate estimated at 735 futures and 44 options. Weekly world market price for long grain rough rice unchanged at $12.80 per cwt-USDA Thailand's benchmark rice price unchanged at $580/tonne for the third consecutive week.
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