Chicago Board of Trade rough rice futures closed mixed on Wednesday, with spreading featured as firms rolled out of their November positions before first notice day next week, traders said.
CBOT rice settled 2 cents per hundredweight higher to 3 cents lower. November closed a penny lower at $6.95 and January up 1/2 cent at $7.12-1/2.
Reface spread November/January while RJ O'Brien and Man Financial spread January/November as firms rolled their November positions ahead of first notice day on October 29.
May rice closed the weakest, down 3 cents at $7.49. Sell-stops were hit at $7.54 in the final minutes of the session.
Selling in May was scattered among firms, including Fiat, RJ O'Brien and Reface, and likely farmer-hedge sales, floor traders said.
Commercial buying underpinned the market with interest picking up as November dipped below $7, traders said. A firm cash market remained supportive as US farmers were unwilling to move much rice before the new tax year.
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