US rice futures on the Chicago Board of Trade closed steady to weaker on Tuesday, with new-crop months pressured by outlooks for a record-large US 2010 rice crop, traders said. Nearby, old-crop months ended flat, underpinned by technical buying including short-covering.
CBOT July rice settled unchanged at $11.89-1/2 per hundredweight (cwt); new-crop November down 1-1/2 cent at $11.60-1/2. CBOT volume was light at an estimated 730 rice futures and 50 options.
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