Rough rice futures at the Chicago Board of Trade closed firm on Tuesday on mild bounce, supported by commercial pricing, traders said. July rice ended 3 cents higher at $10.19 per hundredweight, with September up 1 at $10.56 and November 1 higher at $10.86.
Trade was quiet with volume estimated at 655 futures and 77 options. That was near the 663 futures and 20 options that traded on Monday. Man Financial was featured buying the front three months for commercial interest, floor traders said. Spread trade was quiet after being active since last week. Good US crop conditions overhang prices but farmers have planted fewer rice acres this spring.
The US Department of Agriculture said late on Monday that 71 percent of the crop was in good to excellent condition, up from 67 percent the week before. In export news, Bangladesh issued a tender to import 200,000 tonnes of non-basmati parboiled rice by September, food officials said on Tuesday.