US rice futures on the Chicago Board of Trade closed lower on Friday on profit-taking after hitting contract highs during the overnight session, traders said. November rice settled down 1-1/2 cent at $14.95 per hundredweight. January closed 5 cents lower at $15.15-1/2 after notching contract high of $15.34 overnight. Mild profit taking setback after contract highs overnight.
Concerns about reduced Asian stocks support. Russia raises rice import tariff to 120 euro per tonne. Overnight, there were 12 November deliveries with an MF Global customer posting them and commercial ADM taking all - a trend seen all week.
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