Thai rice futures retreated from a record high on Wednesday as players cashed in gains, brokers said. Overall volume dropped as 336 contracts of 5 percent white rice were traded compared to Tuesday's 492. The most active may contract settled at 10.34 baht per kg, down from 10.36 baht on Tuesday, with the number of contracts traded rising to 173 from 136.
"Players liquidated contracts in order to take profits after prices had risen for several days," one broker said. Tight domestic supplies are expected to support futures prices over the next few days, brokers said.
On the physical front, Thai 5 percent white rice was 9.9 baht per kg on Wednesday, up from last week's 9.7 baht. Thailand, the world's largest rice exporter, started rice futures trading on August 26 with the 5 percent white rice grade.
Each contract is for 15 tonnes. Trading hours is 0330 to 0800 GMT.
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