Rough rice futures at the Chicago Board of Trade closed lower on Tuesday on follow-through technical selling after Monday's weak close, traders said. CBOT rice futures settled 2 to 6 cents per hundredweight lower. November did not trade, while January closed 2 cents lower at $7.12. The last trading day for November futures is Thursday. Open interest fell to 461 lots by Tuesday's open, down 56 contracts from the day before. A lack of fresh news kept trade quiet. Volume was thin estimated at 132 futures and two options.
There were no deliveries posted against the November contract on Tuesday morning.
The US Agriculture Department on Tuesday left its weekly world market price for rice unchanged with long grain rough rice quoted at $6.16 per cwt.