Rough rice futures at the Chicago Board of Trade closed weaker on Monday on a slight profit-taking setback from Friday's rally, with the January contract holding above $10, traders said.
"The losses in the other markets tempered any upside momentum," said one rice broker. January rice closed 3-1/2 cents lower at $10.04 per hundredweight. The back months ended 2 to 5 cents weaker. Chicago Board of Trade corn, soyabeans and wheat markets closed lower on profit taking.
The hardest hit were nearby corn down about 11 cents and January soyabeans off nearly 18 cents. Volume in rice was very thin estimated at 266 futures, down from the 2,192 contracts that traded on Friday.
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