US rough rice futures on the Chicago Board of Trade ended higher on Monday on short-covering ahead of a US Agriculture Department report, extending gains from the previous session. March finished up 32 cents, or 2.5 percent, at $13.10-1/2 a cwt. The contract had a similar rise on Friday after hitting the maximum daily limit. Late buying helped to push prices up.
A trader noted rolling of short March positions into May. USDA will issue its monthly supply and demand report and its world crop production report on Tuesday morning. Weak dollar also supportive as it makes US exports more competitive abroad. Philippines starts receiving Vietnam rice shipments. China may launch rice futures around March.
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