US rough rice futures on the Chicago Board of Trade closed higher on Monday, supported by harvest delays in south-eastern US crop areas, traders said. The stalled remnants of Tropical Storm Fay soaked parts of the US Gulf Coast over the weekend, slowing the region's rice harvest in Louisiana and Mississippi.
After the close, USDA said the US rice harvest was 10 percent complete, up only 2 points from the previous week's total of 8 percent and behind the five-year average of 14 percent. CBOT September rice settled up 25 cents at $18.25 per hundredweight, after rising to a six-week high of $18.37. New-crop November ended up 20 cents at $18.45.
The daily trading limit for rice reverted to 50 cents per cwt for Monday's trade, from 75 cents on Friday. USDA said 85 percent of the US rice crop had headed as of Sunday, behind the five-year average of 93 percent. USDA said 72 percent of the crop was rated good to excellent, unchanged from the previous week.