Rough rice futures at the Chicago Board of Trade closed lower on Friday on follow-through technical selling, traders said. November rice settled 4 cents lower at $7.27 per hundredweight, with the back months 4 to 5 cents weaker Sell-stops were hit in November from $7.23 to $7.19 early in the session.
Commercial buying by Man Financial surfaced in that range, helping prices to stabilise, floor traders.
Firms continued to roll their November positions to the deferred contracts. The November/January spread traded at 26-1/2 cents per bushel and the November/March traded at 50 cents. Active spread helped boost volume, traders said.
An estimated 2,529 futures and 17 options traded.