US rough rice futures closed weak on Friday on profit taking after the strong gains posted late last week and early this week. CBOT rice closed 3-1-2 to 15-1-2 cents per cwt lower, with January down 4-1-2 at $15.29-1-2 per cwt. USDA said rice exports last week at 24,600 tonnes were up 6 percent from the previous week, but down 66 percent from the prior 4-week average.
Increases were reported for Venezuela, Canada, Mexico and Micronesia and the Bahamas USDA on Wednesday said the world price for long grain rough rice was $13.37 per cwt.