US rough rice futures on the Chicago Board of Trade declined on Friday, pressured by strength in the US dollar that also weighed on corn, soybeans and wheat, traders said. Fears about recession added pressure. November rice settled 24-1/2 cents lower at $15.04-1/2 per hundredweight; January ended down 28 cents at $15.28.
Volume was moderate at an estimated at 1,187 futures and 50 options. Despite a lower close overall, the November/January rice spread narrowed, trading at a carry of 23-1/2 cents; November drew support from light first-day deliveries and strong commercial stopping. Deliveries on November totalled 128 lots, below trade expectations for 300 to 500. RJ O'Brien customer account issued 127, and ADM's house account stopped 64.
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