Chicago Board of Trade rough rice futures settled higher on Tuesday on follow-through technical buying from Monday, traders said. Speculators were covering short positions. But volume was Very light before the US Thanksgiving holiday on Thursday. CBOT rough rice futures closed 6-1/2 to 8 cents per hundredweight higher.
January was up 6-1/2 cents at $7.15-1/2 per cwt. Estimated volume was 129 futures and 15 options. US cash markets were also quiet. There was no bearish reaction to 98 contracts delivered against the expired November contract on Tuesday.
The US Agriculture Department said late on Tuesday it left the world market price for long grain rough rice unchanged at $6.16 per cwt in its weekly update.
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