US rice futures on the Chicago Board of Trade ended mixed on Monday, with the new-crop months gaining on the nearbys which were pressed by spillover selling from CBOT wheat and corn, traders said. Also bearish were large deliveries against the May contract and strong export competition. May ended 23 cents lower at $12.79 per hundredweight; more active closed 22-1/2 down at $13.01-1/2.
New-crop months rose, with September ended up 8 at $12.56. But trade was on the quiet side. Options trade featured commercial selling of July puts and calls. US Agriculture Department reported late Monday that 64 percent of the rice crop was seeded by Sunday, up significantly from last week at 47 percent but still behind the five-year pace of 69 percent.
Overnight May deliveries were large at 189 contracts and met by scattered stoppers. The Philippines, the world's biggest rice importer, has given its state grain agency an option to import 350,000 tonnes more milled rice this year to boost stocks and stabilise domestic prices.