US rice futures on the Chicago Board of Trade ended higher on Monday in choppy, light volume, traders said. Firmer Asian rice prices and concerns about a hot weather in the top US rice state of Arkansas were supportive features. CBOT September rice ended 8 cents up at $16.80 per hundredweight. November closed 7-1/2 higher at $17.07-1/2.
China raised its minimum purchase price for early rice by 10 percent from a year earlier to 1.54 yuan ($0.226) per kilogram, the National Reform and Development Commission. USDA reported late Monday that 70 percent of the rice crop was in good to excellent condition, up from 67 percent a week ago. Maturity lagged a year ago, with 27 percent headed vs 40 percent for the seasonal pace.