Chicago Board of Trade rough rice futures settled steady to weak on Wednesday, after a session dominated by rolling of November positions before first notice day on Friday, traders said.
"November longs were actively rolling their positions into January, or buying January and selling November," one broker said.
The January/November spread opened at 13 cents widened to 18 cents and settled at 12-1/2 cents.
Only light deliveries were expected against November on Friday, the broker added. There were no contracts registered for delivery with the CBOT as of late on Tuesday.
Rice futures settled steady to 1 cent per hundredweight lower.
On Wednesday's estimated CBOT rough rice futures volume was 888 contracts, compared with 1,425 contracts traded on Tuesday. Options trade was estimated at 122 lots.
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