US rice futures on the Chicago Board of Trade rose for third straight day to hit a one-week high on Tuesday, extending their rebound from two-month lows last week, traders said. A rain-delayed US harvest due to heavy rains in the Mississippi Delta region last week was supportive. It will be clear until late Thursday when more rains move into the Delta, making harvest difficult-DTN Meteorlogix.
November ended up 10 cents per cwt at $13.30-1/2; January up 10-1/2 at $13.56. Volume was large estimated at 1,342 futures and 20 options. US rice harvest is just 45 percent complete, behind the usual pace of 66 percent by late September.
In top rice state Arkansas, only 32 percent of the crop off the field compared to the typical pace of 65 percent. South Korea buys 16,000 tonnes of non-glutinous brown rice. Weekend typhoon in northern Philippines destroyed more than 180,000 tonnes of rice, or nearly 3 percent of projected fourth-quarter output of paddy rice but more imports unlikely.
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