Chicago Board of Trade rough rice futures settled lower on Monday, with speculative liquidation outweighing scale-down commercial buying of nearby July, pit brokers said.
"There was also active rolling of July rice positions into September and November," one CBOT rice broker said. Reface Inc, Prudential Securities and Man Financial each sold July and bought September and November, he added.
First notice day for CBOT July rice futures is June 30, while last trading day for the front month is July 21.
There were 561 rice contracts registered with the CBOT as of late on Friday, steady with the previous day's tally.
CBOT rough rice estimated volume on Monday was 808 contracts, compared with Friday's volume of 884 lots. Options trade totalled 350 lots.