AGL 40.29 Increased By ▲ 0.09 (0.22%)
AIRLINK 130.29 Increased By ▲ 1.18 (0.91%)
BOP 6.29 Decreased By ▼ -0.31 (-4.7%)
CNERGY 4.04 Increased By ▲ 0.01 (0.25%)
DCL 8.82 Increased By ▲ 0.37 (4.38%)
DFML 42.75 Increased By ▲ 1.50 (3.64%)
DGKC 87.41 Increased By ▲ 0.41 (0.47%)
FCCL 33.78 Increased By ▲ 0.43 (1.29%)
FFBL 65.90 No Change ▼ 0.00 (0%)
FFL 10.69 Increased By ▲ 0.15 (1.42%)
HUBC 113.75 Increased By ▲ 3.05 (2.76%)
HUMNL 16.10 Increased By ▲ 0.87 (5.71%)
KEL 4.80 Increased By ▲ 0.02 (0.42%)
KOSM 7.99 Increased By ▲ 0.16 (2.04%)
MLCF 42.05 Increased By ▲ 0.15 (0.36%)
NBP 61.10 Increased By ▲ 0.60 (0.99%)
OGDC 184.79 Increased By ▲ 1.99 (1.09%)
PAEL 25.55 Increased By ▲ 0.19 (0.75%)
PIBTL 7.26 Increased By ▲ 1.00 (15.97%)
PPL 146.55 Decreased By ▼ -1.26 (-0.85%)
PRL 24.56 No Change ▼ 0.00 (0%)
PTC 16.47 Increased By ▲ 0.23 (1.42%)
SEARL 70.45 Decreased By ▼ -0.05 (-0.07%)
TELE 7.36 Increased By ▲ 0.06 (0.82%)
TOMCL 36.28 Decreased By ▼ -0.02 (-0.06%)
TPLP 8.13 Increased By ▲ 0.28 (3.57%)
TREET 15.87 Increased By ▲ 0.57 (3.73%)
TRG 51.44 Decreased By ▼ -0.26 (-0.5%)
UNITY 27.46 Increased By ▲ 0.11 (0.4%)
WTL 1.28 Increased By ▲ 0.05 (4.07%)
BR100 9,893 Increased By 51.1 (0.52%)
BR30 30,290 Increased By 253.7 (0.84%)
KSE100 93,026 Increased By 505.2 (0.55%)
KSE30 28,881 Increased By 94.4 (0.33%)

US rough rice futures on the Chicago Board of Trade tumbled on Friday as firms liquidated long positions after this season's run-up to contract highs, traders said. March rice, now in delivery, settled 48 cents per hundredweight lower at $17.31. May ended 46-1/2 down at $17.55 and July close 44 cents weaker at $17.83.
All the Chicago grains were under pressure amid a broad-based sell-off. The markets were due for a technical correction after making a series of contract highs in recent weeks, traders said. The selling started this week as financing woes among some investment funds forced them to liquidate positions to meet margin calls in different financial arenas, largely linked to the subprime debacle. The featured seller in rice was Newedge, likely liquidating long positions for a commodity fund, traders said.
On Friday's volume was moderate to heavy estimated at 1,923 futures or 200 options. Global demand and firm Asian prices remain supportive features. Japan bought 3,180 tonnes of rice at a tender, with most of it 2,925 tonnes sourced from the United States.

Copyright Reuters, 2008

Comments

Comments are closed.