Chicago Board of Trade rough rice futures tumbled on Friday, sliding on speculative sales after sell-stops were hit in light volume, traders said.
USA's monthly crop report released before the open was viewed as a "non-event" as the domestic numbers were unchanged, CBOT traders said. With the lack of news, the market just slid until sell-stops were hit below $9 in July.
The July contract closed below $9 for the first time since May 19, ending 11 cents weaker at $8.99. Volume was light, estimated at 409 futures and 73 options, down from the 780 futures that traded on Thursday.